Blueshift Asset Management LLC Takes $282,000 Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Blueshift Asset Management LLC purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,641 shares of the medical device company’s stock, valued at approximately $282,000.

A number of other hedge funds have also bought and sold shares of TNDM. GAMMA Investing LLC lifted its stake in Tandem Diabetes Care by 11.2% during the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after purchasing an additional 431 shares during the last quarter. MN Wealth Advisors LLC boosted its stake in Tandem Diabetes Care by 3.1% in the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after buying an additional 440 shares in the last quarter. Signaturefd LLC grew its position in Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Tandem Diabetes Care in the third quarter worth about $28,000.

Tandem Diabetes Care Stock Up 3.9 %

TNDM stock opened at $31.22 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a 50-day moving average price of $35.16 and a 200-day moving average price of $40.90. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. Equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Activity at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target for the company. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target for the company. UBS Group raised Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.