IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 4,700 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 28.4% during the second quarter, Holdings Channel reports. The institutional investor owned 11,851 shares of the medical device company’s stock after selling 4,700 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Tandem Diabetes Care were worth $477,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC boosted its stake in Tandem Diabetes Care by 98.1% in the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after purchasing an additional 1,265,534 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in Tandem Diabetes Care in the 4th quarter worth approximately $36,288,000. Kingdon Capital Management L.L.C. boosted its stake in Tandem Diabetes Care by 153.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after purchasing an additional 298,880 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $8,018,000. Finally, Brown Capital Management LLC boosted its stake in Tandem Diabetes Care by 29.9% in the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after purchasing an additional 219,940 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TNDM. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $57.00 in a research note on Wednesday, May 22nd. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price objective on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Finally, Lake Street Capital lifted their price objective on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.36.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM traded down $0.81 during trading hours on Friday, reaching $43.39. 441,065 shares of the company were exchanged, compared to its average volume of 1,682,519. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The stock’s 50-day moving average is $41.81 and its 200-day moving average is $38.68. The firm has a market cap of $2.84 billion, a PE ratio of -20.37 and a beta of 1.28. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to analysts’ expectations of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) earnings per share. On average, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

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.