Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,979,119 shares of the medical device company’s stock after selling 194,988 shares during the period. Fred Alger Management LLC’s holdings in Tandem Diabetes Care were worth $83,934,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Tandem Diabetes Care by 5.4% in the first 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 acquiring an additional 1,985 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after purchasing an additional 431 shares during the last quarter. LVW Advisors LLC raised its stake in shares of Tandem Diabetes Care by 15.1% in the 2nd quarter. LVW Advisors LLC now owns 7,869 shares of the medical device company’s stock valued at $317,000 after purchasing an additional 1,034 shares in the last quarter. Diversified Trust Co lifted its position in shares of Tandem Diabetes Care by 11.1% during the second quarter. Diversified Trust Co now owns 14,635 shares of the medical device company’s stock worth $590,000 after purchasing an additional 1,462 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in Tandem Diabetes Care in the second quarter worth about $31,000.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TNDM shares. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target on the stock. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird decreased 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 report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, 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. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Trading Up 3.9 %

TNDM opened at $31.22 on Friday. The stock has a fifty day moving average of $35.16 and a 200-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, Inc. has a 12-month low of $18.45 and a 12-month high of $53.69.

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, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, research analysts predict 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.