Tandem Diabetes Care, Inc. $TNDM Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,675,157 shares of the medical device company’s stock after selling 46,492 shares during the quarter. GW&K Investment Management LLC’s holdings in Tandem Diabetes Care were worth $58,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 valued at $161,363,000 after buying an additional 278,042 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Tandem Diabetes Care by 36.7% during 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 purchasing an additional 991,649 shares during the period. Jennison Associates LLC grew its stake in shares of Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth $22,706,000. Finally, Goldman Sachs Group Inc. grew its stake in 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 valued at $37,001,000 after acquiring an additional 252,028 shares during the last quarter.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $17.61 on Wednesday. The company has a market cap of $1.21 billion, a PE ratio of -12.58 and a beta of 1.58. The company has a fifty day moving average price of $17.92 and a two-hundred day moving average price of $20.34. 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, 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 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. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.66) earnings per share. Research analysts expect that Tandem Diabetes Care, Inc. will post -0.74 earnings per share for the current year.

Analysts Set New Price Targets

TNDM has been the topic of several analyst reports. 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. Lake Street Capital raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, February 23rd. Citigroup restated a “neutral” rating and issued a $17.00 price target (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Stifel Nicolaus raised their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, February 20th. Finally, Morgan Stanley raised their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.84.

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.