114,604 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the third quarter, HoldingsChannel reports. The fund acquired 114,604 shares of the medical device company’s stock, valued at approximately $4,860,000.

Other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC grew its stake in shares of Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after buying an additional 677,036 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock worth $16,252,000 after purchasing an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. grew its stake in Tandem Diabetes Care by 153.9% during the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after buying an additional 298,880 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after acquiring an additional 233,405 shares in the last quarter. Finally, Brown Capital Management LLC raised its position in Tandem Diabetes Care by 29.9% during the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after purchasing an additional 219,940 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Barclays lifted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target on the stock. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. 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 company presently has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded down $0.13 on Friday, reaching $28.46. The company had a trading volume of 109,954 shares, compared to its average volume of 1,599,521. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69. The firm’s 50 day moving average price is $38.05 and its two-hundred day moving average price is $41.76. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. During the same period in the prior year, the firm posted ($0.38) EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 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.