Defilade Capital Management L.P. Buys New Shares in Tandem Diabetes Care, Inc. $TNDM

Defilade Capital Management L.P. purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 761,905 shares of the medical device company’s stock, valued at approximately $14,606,000. Tandem Diabetes Care accounts for about 2.1% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 22nd largest position. Defilade Capital Management L.P. owned approximately 1.11% of Tandem Diabetes Care as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of Tandem Diabetes Care by 30.5% during the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock valued at $4,054,000 after buying an additional 49,408 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tandem Diabetes Care by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock valued at $1,426,000 after acquiring an additional 2,096 shares during the period. Millennium Management LLC increased its stake in Tandem Diabetes Care by 41.1% during the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after acquiring an additional 66,245 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Tandem Diabetes Care during the first quarter valued at about $225,000. Finally, Goldman Sachs Group Inc. raised its holdings in Tandem Diabetes Care by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after acquiring an additional 34,069 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on TNDM shares. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a research report on Monday, April 20th. Weiss Ratings lowered Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Barclays set a $55.00 target price on Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. Truist Financial reiterated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Finally, Mizuho lowered their price target on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.73.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $19.50 on Monday. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $29.65. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -13.93 and a beta of 1.53. The stock’s 50 day moving average is $16.52 and its two-hundred day moving average is $18.89. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The business had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.66) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current fiscal year.

Tandem Diabetes Care Company 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.