Envestnet Asset Management Inc. Cuts Stock Position in Tandem Diabetes Care, Inc. $TNDM

Envestnet Asset Management Inc. decreased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,332 shares of the medical device company’s stock after selling 41,678 shares during the quarter. Envestnet Asset Management Inc. owned 0.35% of Tandem Diabetes Care worth $2,869,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TNDM. Royal Bank of Canada lifted its holdings in Tandem Diabetes Care by 30.5% during the 1st quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after buying an additional 49,408 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tandem Diabetes Care by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after acquiring an additional 2,096 shares during the period. Millennium Management LLC raised its stake in shares of Tandem Diabetes Care by 41.1% in the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after acquiring an additional 66,245 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Tandem Diabetes Care in the first quarter valued at $225,000. Finally, Goldman Sachs Group Inc. grew its stake in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after purchasing an additional 34,069 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on TNDM shares. Mizuho set a $22.00 price target on Tandem Diabetes Care and gave the stock a “neutral” rating in a report on Friday, February 20th. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $28.00 price target on shares of Tandem Diabetes Care in a research note on Monday. Morgan Stanley set a $23.00 price target on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of Tandem Diabetes Care and gave the company a “buy” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.00.

Tandem Diabetes Care Stock Down 3.3%

TNDM stock opened at $26.01 on Thursday. The stock has a market cap of $1.78 billion, a P/E ratio of -8.47 and a beta of 1.68. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $34.99. The company’s 50 day moving average is $21.19 and its two-hundred day moving average is $17.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The firm had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. During the same period last year, the firm posted $0.01 EPS. The company’s revenue was up 15.1% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.