Intech Investment Management LLC Has $602,000 Position in Tandem Diabetes Care, Inc. $TNDM

Intech Investment Management LLC lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 62.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,371 shares of the medical device company’s stock after selling 46,122 shares during the quarter. Intech Investment Management LLC’s holdings in Tandem Diabetes Care were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TNDM. Caitong International Asset Management Co. Ltd boosted its stake in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the last quarter. Quarry LP boosted its stake in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 3,558 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Tandem Diabetes Care by 485.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after acquiring an additional 4,269 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Tandem Diabetes Care by 36.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after acquiring an additional 909 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Tandem Diabetes Care by 36.6% in the fourth quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock valued at $79,000 after acquiring an additional 965 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TNDM shares. Citigroup reaffirmed a “neutral” rating and issued a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a research note on Thursday, May 28th. Piper Sandler raised shares of Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $33.00 in a research note on Tuesday, March 17th. Barclays set a $55.00 price objective on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of Tandem Diabetes Care from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company raised shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $27.00 in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.84.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $17.61 on Wednesday. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $29.65. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -12.58 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. The firm has a fifty day moving average of $17.92 and a 200-day moving average of $20.34.

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