Tandem Diabetes Care, Inc. $TNDM Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 18.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,658,448 shares of the medical device company’s stock after selling 362,928 shares during the period. Jennison Associates LLC’s holdings in Tandem Diabetes Care were worth $31,792,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after purchasing an additional 278,042 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth about $22,706,000. Goldman Sachs Group Inc. lifted its stake in shares of Tandem Diabetes Care by 17.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock worth $37,001,000 after acquiring an additional 252,028 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tandem Diabetes Care by 11.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,653,708 shares of the medical device company’s stock valued at $36,349,000 after acquiring an additional 171,755 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Tandem Diabetes Care by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,649,383 shares of the medical device company’s stock valued at $36,260,000 after acquiring an additional 51,102 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TNDM shares. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $27.00 in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price on the stock. Truist Financial reissued a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. Rothschild & Co Redburn set a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, April 24th. Finally, Zacks Research cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.93.

Tandem Diabetes Care Stock Up 6.0%

Shares of Tandem Diabetes Care stock opened at $18.10 on Tuesday. The stock’s fifty day moving average is $15.89 and its 200-day moving average is $19.17. The firm has a market capitalization of $1.24 billion, a PE ratio of -12.93 and a beta of 1.58. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $29.65.

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

About Tandem Diabetes Care

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.