Bayesian Capital Management LP Has $850,000 Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bayesian Capital Management LP reduced its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,000 shares of the medical device company’s stock after selling 3,919 shares during the period. Bayesian Capital Management LP’s holdings in Tandem Diabetes Care were worth $850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Tandem Diabetes Care in the first quarter valued at about $35,000. MCF Advisors LLC grew its position in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares during the period. Signaturefd LLC grew its position in shares of Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after buying an additional 1,517 shares during the period. Arcadia Investment Management Corp MI raised its stake 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 worth $66,000 after buying an additional 1,085 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $73,000.

Tandem Diabetes Care Stock Down 1.3 %

NASDAQ TNDM traded down $0.49 on Tuesday, reaching $36.73. The company had a trading volume of 1,869,892 shares, compared to its average volume of 1,698,722. The company’s fifty day moving average is $45.21 and its 200-day moving average is $36.02. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -16.69 and a beta of 1.28. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69.

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

Wall Street Analyst Weigh In

A number of research firms have commented on TNDM. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $57.00 in a report on Wednesday, May 22nd. Robert W. Baird raised their target price on Tandem Diabetes Care from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $45.00 in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and a consensus price target of $51.25.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction 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 sale, the director now directly owns 24,396 shares in the company, valued at approximately $1,260,785.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.

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.