Rice Hall James & Associates LLC Sells 40,154 Shares of Tandem Diabetes Care, Inc. $TNDM

Rice Hall James & Associates LLC trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 39.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,415 shares of the medical device company’s stock after selling 40,154 shares during the period. Rice Hall James & Associates LLC owned approximately 0.09% of Tandem Diabetes Care worth $1,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TNDM. Caitong International Asset Management Co. Ltd increased its position in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after buying an additional 593 shares in the last quarter. Quarry LP increased its position in Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after buying an additional 3,558 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Tandem Diabetes Care by 485.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after buying an additional 4,269 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after buying an additional 909 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TNDM. Lake Street Capital raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, February 23rd. TD Cowen reissued a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Weiss Ratings lowered Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Stifel Nicolaus boosted their price objective on Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Finally, Citigroup reissued a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.84.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $16.69 on Wednesday. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The stock has a 50 day moving average price of $17.67 and a two-hundred day moving average price of $20.18. The firm has a market capitalization of $1.14 billion, a P/E ratio of -11.92 and a beta of 1.58. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. During the same period in the previous year, the company posted ($0.66) EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -0.74 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.