GAMMA Investing LLC Reduces Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

GAMMA Investing LLC reduced its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 54.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the medical device company’s stock after selling 2,685 shares during the quarter. GAMMA Investing LLC’s holdings in Tandem Diabetes Care were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 541 shares in the last quarter. NBC Securities Inc. purchased a new position in Tandem Diabetes Care during the 1st quarter valued at about $37,000. Jones Financial Companies Lllp increased its holdings in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. Assetmark Inc. increased its holdings in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares in the last quarter. Finally, State of Wyoming increased its holdings in Tandem Diabetes Care by 95.9% during the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock valued at $108,000 after acquiring an additional 1,467 shares in the last quarter.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $16.17 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $15.17 and a 1 year high of $48.24. The firm has a 50 day moving average price of $20.41 and a 200 day moving average price of $24.64. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -5.82 and a beta of 1.48. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The company had revenue of $234.42 million during the quarter, compared to analysts’ expectations of $220.19 million. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TNDM. Mizuho started coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Piper Sandler lowered their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average target price of $32.71.

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.