Millrace Asset Group Inc. Buys Shares of 46,304 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Millrace Asset Group Inc. purchased a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 46,304 shares of the medical device company’s stock, valued at approximately $1,964,000. Tandem Diabetes Care makes up about 2.0% of Millrace Asset Group Inc.’s holdings, making the stock its 18th biggest position.

A number of other institutional investors have also recently modified their holdings of the stock. Sei Investments Co. lifted its stake in shares of Tandem Diabetes Care by 125.8% in the first quarter. Sei Investments Co. now owns 17,349 shares of the medical device company’s stock worth $614,000 after buying an additional 9,666 shares in the last quarter. Vanguard Group Inc. lifted its position in Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after acquiring an additional 30,664 shares in the last quarter. BOKF NA lifted its position in Tandem Diabetes Care by 28.9% in the 1st quarter. BOKF NA now owns 23,817 shares of the medical device company’s stock valued at $806,000 after acquiring an additional 5,345 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Tandem Diabetes Care by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,732 shares of the medical device company’s stock valued at $1,372,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Tandem Diabetes Care by 4.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 266,158 shares of the medical device company’s stock worth $9,425,000 after purchasing an additional 10,907 shares in the last quarter.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Tandem Diabetes Care Stock Down 1.3 %

NASDAQ TNDM opened at $30.42 on Tuesday. Tandem Diabetes Care, Inc. has a 52 week low of $18.45 and a 52 week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.00 billion, a P/E ratio of -15.76 and a beta of 1.36. The stock’s 50-day moving average price is $35.91 and its 200-day moving average price is $41.14.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.38) EPS. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on TNDM. Wells Fargo & Company increased their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Canaccord Genuity Group decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Profile

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.