CenterBook Partners LP Invests $205,000 in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

CenterBook Partners LP purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDMFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,929 shares of the medical device company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eminence Capital LP boosted its holdings in shares of Tandem Diabetes Care by 76.1% in the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after acquiring an additional 2,372,458 shares in the last quarter. GW&K Investment Management LLC acquired a new position in Tandem Diabetes Care during the 4th quarter worth approximately $36,288,000. KBC Group NV raised its stake in shares of Tandem Diabetes Care by 256.1% during the 4th quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock worth $7,098,000 after buying an additional 172,570 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Tandem Diabetes Care by 14.9% in the 4th quarter. Jennison Associates LLC now owns 1,290,590 shares of the medical device company’s stock valued at $38,176,000 after buying an additional 167,675 shares during the period. Finally, Banque Pictet & Cie SA purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $2,295,000.

Tandem Diabetes Care Price Performance

TNDM opened at $48.85 on Monday. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69. The company’s 50 day simple moving average is $41.45 and its 200 day simple moving average is $31.66. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.17. The company had revenue of $191.67 million for the quarter, compared to analyst estimates of $173.06 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TNDM shares. Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $45.00 in a research report on Monday, April 29th. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Stifel Nicolaus boosted their price objective on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Barclays lifted their price target on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Lake Street Capital upped their price target on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.58.

View Our Latest Stock Analysis on TNDM

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by company insiders.

Tandem Diabetes Care Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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