Blueshift Asset Management LLC Buys Shares of 6,641 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Blueshift Asset Management LLC bought a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,641 shares of the medical device company’s stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its holdings in shares of Tandem Diabetes Care by 368.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after buying an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after acquiring an additional 66,687 shares in the last quarter. LMR Partners LLP grew its stake in Tandem Diabetes Care by 235.5% in the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock valued at $1,434,000 after acquiring an additional 23,743 shares during the period. abrdn plc bought a new stake in shares of Tandem Diabetes Care in the third quarter worth about $6,126,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Tandem Diabetes Care by 310.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock worth $1,450,000 after purchasing an additional 27,208 shares during the period.

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 dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TNDM. Robert W. Baird decreased their price objective on 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. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Canaccord Genuity Group reduced their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Stock Up 3.9 %

Tandem Diabetes Care stock opened at $31.22 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company’s 50-day moving average is $35.16 and its 200-day moving average is $40.90. Tandem Diabetes Care, Inc. has a fifty-two week low of $18.45 and a fifty-two week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly 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. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. During the same quarter in the previous year, the business earned ($0.38) earnings per share. The business’s revenue was up 31.4% compared to the same quarter last year. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Tandem Diabetes Care Company 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.