Capital World Investors Reduces Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Capital World Investors lessened its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 42.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,665,300 shares of the medical device company’s stock after selling 2,718,811 shares during the quarter. Capital World Investors owned 5.67% of Tandem Diabetes Care worth $129,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Tandem Diabetes Care in the first quarter worth about $35,000. MCF Advisors LLC increased its stake in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after purchasing an additional 1,517 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Tandem Diabetes Care by 141.6% during the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 1,085 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Tandem Diabetes Care during the fourth quarter valued at approximately $73,000.

Tandem Diabetes Care Trading Down 1.5 %

Tandem Diabetes Care stock traded down $0.60 during midday trading on Friday, hitting $40.05. 4,859,906 shares of the stock were exchanged, compared to its average volume of 1,518,030. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -18.46 and a beta of 1.28. The stock’s 50-day simple moving average is $45.41 and its 200 day simple moving average is $35.83. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

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

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $57.00 in a research note on Wednesday, May 22nd. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. SVB Leerink upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and set a $50.00 price target (up from $35.00) on shares of Tandem Diabetes Care 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 company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus target price of $51.25.

Insider Activity at Tandem Diabetes Care

In related news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the completion of the transaction, the director now owns 24,396 shares in the company, valued at $1,260,785.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

About Tandem Diabetes Care

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.