Oak Thistle LLC Lowers Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Oak Thistle LLC reduced its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 53.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,557 shares of the medical device company’s stock after selling 9,694 shares during the quarter. Oak Thistle LLC’s holdings in Tandem Diabetes Care were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV increased its position in shares of Tandem Diabetes Care by 256.1% during the 4th quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock valued at $7,098,000 after purchasing an additional 172,570 shares during the last quarter. Eminence Capital LP increased its position in shares of Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after purchasing an additional 2,372,458 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Tandem Diabetes Care by 79.5% during the 4th quarter. Russell Investments Group Ltd. now owns 247,325 shares of the medical device company’s stock valued at $7,316,000 after purchasing an additional 109,505 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at $3,132,000. Finally, Commerce Bank purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at $460,000.

Tandem Diabetes Care Price Performance

Shares of TNDM traded down $0.84 during trading hours on Monday, reaching $39.45. 1,500,848 shares of the company’s stock traded hands, compared to its average volume of 1,736,491. The stock has a market cap of $2.55 billion, a PE ratio of -18.18 and a beta of 1.28. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43. The firm’s 50 day simple moving average is $44.68 and its 200-day simple moving average is $34.05. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.17. The company had revenue of $191.67 million for the quarter, compared to analysts’ expectations of $173.06 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.71 EPS for the current year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research reports. Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $45.00 in a research note on Monday, April 29th. Robert W. Baird increased their price target on Tandem Diabetes Care from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Oppenheimer increased their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $57.00 in a research note on Wednesday, May 22nd. Finally, Leerink Partnrs upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

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.