Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stake Lifted by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,158 shares of the medical device company’s stock after purchasing an additional 10,907 shares during the period. Silvercrest Asset Management Group LLC owned 0.41% of Tandem Diabetes Care worth $9,425,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Tandem Diabetes Care by 0.4% during 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 purchasing an additional 30,664 shares during the period. Jennison Associates LLC grew its holdings in Tandem Diabetes Care by 98.1% during the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after acquiring an additional 1,265,534 shares during the period. Bellevue Group AG grew its holdings in Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after acquiring an additional 39,571 shares during the period. GW&K Investment Management LLC bought a new stake in Tandem Diabetes Care in the fourth quarter worth about $36,288,000. Finally, Brown Capital Management LLC lifted its holdings in Tandem Diabetes Care by 29.9% in the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after acquiring an additional 219,940 shares during the last quarter.

Insider Activity

In related news, Director Dick Allen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TNDM has been the topic of a number of research reports. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Oppenheimer upped their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Piper Sandler reissued an “overweight” rating and set a $50.00 price objective (up from $35.00) on shares of Tandem Diabetes Care in a research note on Friday, May 3rd. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $57.00 in a report on Wednesday, May 22nd. Finally, Robert W. Baird upped their target price on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus target price of $51.25.

Tandem Diabetes Care Price Performance

TNDM stock opened at $36.37 on Wednesday. The firm has a 50 day simple moving average of $44.95 and a 200 day simple moving average of $36.10. Tandem Diabetes Care, Inc. has a 52 week low of $13.82 and a 52 week high of $53.69. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.17. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The company had revenue of $191.67 million during the quarter, compared to the consensus estimate of $173.06 million. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.71 earnings per share for the current fiscal 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.