Jacobs Levy Equity Management Inc. Reduces Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 53.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 574,676 shares of the medical device company’s stock after selling 669,464 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.87% of Tandem Diabetes Care worth $24,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care during the third quarter worth approximately $28,000. Assetmark Inc. acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $29,000. ORG Wealth Partners LLC acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $30,000. ORG Partners LLC purchased a new stake in Tandem Diabetes Care in the second quarter valued at $31,000. Finally, Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $50,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TNDM. Canaccord Genuity Group cut their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Barclays increased their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $33.37 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $34.38 and its two-hundred day moving average is $40.54. Tandem Diabetes Care, Inc. has a 12-month low of $20.52 and a 12-month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.38) earnings per share. As a group, analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

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.