Prelude Capital Management LLC Lowers Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Prelude Capital Management LLC trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 32.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,514 shares of the medical device company’s stock after selling 3,159 shares during the quarter. Prelude Capital Management LLC’s holdings in Tandem Diabetes Care were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Tandem Diabetes Care by 33.2% during the first quarter. Ameriprise Financial Inc. now owns 287,487 shares of the medical device company’s stock valued at $11,667,000 after purchasing an additional 71,579 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Tandem Diabetes Care by 272.0% in the first quarter. Thrivent Financial for Lutherans now owns 63,721 shares of the medical device company’s stock valued at $2,588,000 after purchasing an additional 46,594 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Tandem Diabetes Care by 8.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 15,485 shares of the medical device company’s stock valued at $629,000 after purchasing an additional 1,219 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in Tandem Diabetes Care by 16.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 163,604 shares of the medical device company’s stock valued at $6,644,000 after purchasing an additional 22,936 shares during the last quarter. Finally, State Street Corp grew its stake in Tandem Diabetes Care by 13.1% in the first quarter. State Street Corp now owns 2,066,929 shares of the medical device company’s stock valued at $83,938,000 after purchasing an additional 239,659 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on TNDM. Craig Hallum reduced their target price on Tandem Diabetes Care from $74.00 to $50.00 in a research report on Tuesday, June 13th. StockNews.com began coverage on shares of Tandem Diabetes Care in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays cut their price objective on shares of Tandem Diabetes Care from $71.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Wells Fargo & Company cut their price objective on shares of Tandem Diabetes Care from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, TD Cowen cut their price objective on shares of Tandem Diabetes Care from $52.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care has an average rating of “Hold” and an average price target of $46.80.

Tandem Diabetes Care Stock Up 1.8 %

TNDM opened at $22.14 on Tuesday. Tandem Diabetes Care, Inc. has a twelve month low of $21.01 and a twelve month high of $58.82. The company has a market cap of $1.44 billion, a PE ratio of -6.36 and a beta of 0.87. The company has a 50-day moving average price of $28.93 and a 200 day moving average price of $32.01. The company has a quick ratio of 3.53, a current ratio of 4.38 and a debt-to-equity ratio of 0.86.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, August 3rd. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.24. Tandem Diabetes Care had a negative net margin of 28.40% and a negative return on equity of 20.29%. The firm had revenue of $195.92 million for the quarter, compared to analyst estimates of $201.62 million. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.49 earnings per share for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.