Bellevue Group AG Raises Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bellevue Group AG lifted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,031,888 shares of the medical device company’s stock after acquiring an additional 39,571 shares during the period. Tandem Diabetes Care makes up 1.1% of Bellevue Group AG’s holdings, making the stock its 25th biggest holding. Bellevue Group AG’s holdings in Tandem Diabetes Care were worth $71,949,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares during the last quarter. GW&K Investment Management LLC acquired a new position in Tandem Diabetes Care during the 4th quarter worth $36,288,000. Assenagon Asset Management S.A. bought a new stake in shares of Tandem Diabetes Care in the 1st quarter worth about $8,018,000. Brown Capital Management LLC increased its holdings in Tandem Diabetes Care by 29.9% in 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 buying an additional 219,940 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new position in Tandem Diabetes Care during the 4th quarter worth approximately $5,744,000.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total transaction of $258,400.00. Following the transaction, the director now owns 24,396 shares in the company, valued at $1,260,785.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

TNDM has been the subject of several research reports. Robert W. Baird lifted their price target on shares of Tandem Diabetes Care from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $45.00 in a report on Monday, April 29th. SVB Leerink upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $34.00 to $45.00 in a research report on Thursday, April 25th. Lake Street Capital lifted their price objective on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus price target of $51.25.

Tandem Diabetes Care Stock Down 1.5 %

Shares of TNDM traded down $0.60 during mid-day trading on Friday, reaching $40.05. The company’s stock had a trading volume of 4,859,906 shares, compared to its average volume of 1,518,030. The business has a fifty day moving average of $45.41 and a 200 day moving average of $35.95. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -18.46 and a beta of 1.28. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43.

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

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.