Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Holdings Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 74.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,231 shares of the medical device company’s stock after selling 279,334 shares during the period. Assenagon Asset Management S.A. owned approximately 0.15% of Tandem Diabetes Care worth $3,538,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TNDM. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care during the third quarter valued at approximately $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at $30,000. Waldron Private Wealth LLC acquired a new position in shares of Tandem Diabetes Care in the third quarter worth $50,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $52,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $35.30 on Wednesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -18.29 and a beta of 1.29. The business has a 50 day moving average price of $33.64 and a 200 day moving average price of $37.90. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a twelve month low of $21.85 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the prior year, the business earned ($0.38) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. Research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of recent research reports. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, December 2nd. Citigroup lowered their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Canaccord Genuity Group dropped their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays lifted their target price on shares of 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 initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.81.

Insiders Place Their Bets

In other Tandem Diabetes Care 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 value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Tandem Diabetes Care 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.