Fred Alger Management LLC Decreases Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Fred Alger Management LLC decreased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,979,119 shares of the medical device company’s stock after selling 194,988 shares during the period. Fred Alger Management LLC owned about 3.01% of Tandem Diabetes Care worth $83,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TNDM. Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 12.2% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after purchasing an additional 138,263 shares in the last quarter. Chicago Capital LLC boosted its stake in shares of Tandem Diabetes Care by 22.2% in the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after buying an additional 182,085 shares during the period. First Light Asset Management LLC grew its position in shares of Tandem Diabetes Care by 49.1% during the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after buying an additional 233,405 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Tandem Diabetes Care by 45.6% during the third quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company’s stock worth $24,905,000 after buying an additional 183,877 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Tandem Diabetes Care by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company’s stock valued at $24,855,000 after acquiring an additional 18,874 shares in the last quarter.

Tandem Diabetes Care Stock Performance

TNDM opened at $31.22 on Friday. Tandem Diabetes Care, Inc. has a 12 month low of $18.45 and a 12 month high of $53.69. The business has a 50-day moving average of $35.16 and a two-hundred day moving average of $40.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the prior year, the business posted ($0.38) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TNDM. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Robert W. Baird decreased their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

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.