Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stake Reduced by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 33,663 shares of the medical device company’s stock after selling 3,713 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.05% of Tandem Diabetes Care worth $1,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bellevue Group AG lifted its position in Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after purchasing an additional 307,624 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 129.1% in the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after purchasing an additional 21,086 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after buying an additional 66,687 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of Tandem Diabetes Care by 235.5% during the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock worth $1,434,000 after buying an additional 23,743 shares during the period.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays raised their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd. Citigroup decreased their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus target price of $53.81.

Tandem Diabetes Care Stock Performance

TNDM opened at $32.66 on Friday. The business has a fifty day simple moving average of $32.82 and a 200-day simple moving average of $39.69. The firm has a market cap of $2.15 billion, a PE ratio of -16.92 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a fifty-two week low of $21.85 and a fifty-two week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly 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. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter last year, the business posted ($0.38) EPS. Tandem Diabetes Care’s revenue was up 31.4% on a year-over-year basis. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

About Tandem Diabetes Care

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.