Brooklyn Investment Group Buys Shares of 656 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Brooklyn Investment Group purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 656 shares of the medical device company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TNDM. Millrace Asset Group Inc. acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $1,964,000. Cerity Partners LLC boosted its stake in Tandem Diabetes Care by 21.8% in the 3rd quarter. Cerity Partners LLC now owns 62,796 shares of the medical device company’s stock worth $2,663,000 after buying an additional 11,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tandem Diabetes Care by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company’s stock worth $24,855,000 after buying an additional 18,874 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in Tandem Diabetes Care by 10.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,554 shares of the medical device company’s stock valued at $575,000 after buying an additional 1,313 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 156.0% during the 3rd quarter. Intech Investment Management LLC now owns 18,336 shares of the medical device company’s stock valued at $778,000 after acquiring an additional 11,173 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TNDM shares. Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. The Goldman Sachs Group started coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Down 1.9 %

Shares of NASDAQ:TNDM opened at $30.63 on Friday. The company has a 50 day moving average of $34.88 and a two-hundred day moving average of $40.79. Tandem Diabetes Care, Inc. has a 52-week low of $18.45 and a 52-week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36.

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

Insider Buying and Selling

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Company 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.