Point72 Hong Kong Ltd Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Point72 Hong Kong Ltd bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,928 shares of the medical device company’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TNDM. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new position in shares of Tandem Diabetes Care in the 2nd quarter worth about $31,000. Finally, Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the third quarter valued at about $50,000.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $32.51 on Tuesday. The business’s 50-day moving average price is $34.62 and its 200-day moving average price is $40.64. Tandem Diabetes Care, Inc. has a 12 month low of $20.52 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results 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. The business had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period last year, the business earned ($0.38) earnings per share. Analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TNDM shares. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price for the company. Barclays boosted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

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.