Point72 Hong Kong Ltd Takes Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Point72 Hong Kong Ltd bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,928 shares of the medical device company’s stock, valued at approximately $463,000.

A number of other hedge funds also recently bought and sold shares of the business. Fred Alger Management LLC raised its holdings in Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. raised its stake in Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock worth $16,252,000 after buying an additional 389,632 shares in the last quarter. Bellevue Group AG lifted its holdings in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares during the period. First Light Asset Management LLC boosted its position in Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after acquiring an additional 233,405 shares in the last quarter. Finally, Chicago Capital LLC grew its holdings in shares of Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after acquiring an additional 182,085 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TNDM. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group cut their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.25.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction on 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 represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

Tandem Diabetes Care Trading Up 6.1 %

Tandem Diabetes Care stock opened at $32.51 on Tuesday. Tandem Diabetes Care, Inc. has a 12 month low of $20.52 and a 12 month high of $53.69. The stock has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $40.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

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

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.