Rice Hall James & Associates LLC Cuts Position in Tandem Diabetes Care, Inc. $TNDM

Rice Hall James & Associates LLC lessened its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 39.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 62,415 shares of the medical device company’s stock after selling 40,154 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Tandem Diabetes Care were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Tandem Diabetes Care by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of Tandem Diabetes Care by 36.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after buying an additional 991,649 shares during the last quarter. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Tandem Diabetes Care in the third quarter valued at approximately $22,706,000. Finally, Goldman Sachs Group Inc. lifted its stake in Tandem Diabetes Care by 17.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock valued at $37,001,000 after purchasing an additional 252,028 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. Stifel Nicolaus upped their price objective on Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Benchmark assumed coverage on Tandem Diabetes Care in a research note on Monday, May 11th. They issued a “hold” rating on the stock. Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Monday, February 23rd. Finally, Morgan Stanley upped their price objective on Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.84.

Tandem Diabetes Care Trading Down 0.4%

NASDAQ:TNDM opened at $16.69 on Wednesday. The company has a market cap of $1.14 billion, a P/E ratio of -11.92 and a beta of 1.58. The stock’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $20.18. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $29.65. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.66) earnings per share. As a group, analysts expect that Tandem Diabetes Care, Inc. will post -0.74 EPS for the current year.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.