Aberdeen Group plc Sells 51,061 Shares of Tandem Diabetes Care, Inc. $TNDM

Aberdeen Group plc reduced its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,035 shares of the medical device company’s stock after selling 51,061 shares during the period. Aberdeen Group plc owned about 0.81% of Tandem Diabetes Care worth $12,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sector Gamma AS grew its holdings in shares of Tandem Diabetes Care by 28.0% during the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock worth $3,272,000 after purchasing an additional 59,019 shares during the last quarter. Royce & Associates LP bought a new position in Tandem Diabetes Care during the 3rd quarter worth $6,191,000. Assenagon Asset Management S.A. bought a new position in Tandem Diabetes Care during the 4th quarter worth $26,988,000. ArrowMark Colorado Holdings LLC raised its position in Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Tandem Diabetes Care by 55.2% during the 3rd quarter. Intech Investment Management LLC now owns 73,493 shares of the medical device company’s stock worth $892,000 after purchasing an additional 26,150 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on TNDM. Truist Financial raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $35.00 in a research report on Thursday, March 19th. Barclays reaffirmed an “overweight” rating and set a $56.00 target price on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Mizuho set a $22.00 target price on Tandem Diabetes Care and gave the stock a “neutral” rating in a research report on Friday, February 20th. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Hold” and an average price target of $29.22.

Tandem Diabetes Care Price Performance

TNDM stock opened at $18.28 on Wednesday. The stock has a market capitalization of $1.25 billion, a PE ratio of -5.95 and a beta of 1.74. The company’s 50-day moving average is $21.53 and its 200-day moving average is $19.47. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS. Equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.