Chicago Capital LLC Sells 32,540 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Chicago Capital LLC lessened its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 970,607 shares of the medical device company’s stock after selling 32,540 shares during the quarter. Chicago Capital LLC owned approximately 1.48% of Tandem Diabetes Care worth $34,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tandem Diabetes Care by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock valued at $664,000 after purchasing an additional 704 shares during the period. Finally, Hanseatic Management Services Inc. raised its position in shares of Tandem Diabetes Care by 5.4% in the third quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock valued at $591,000 after purchasing an additional 710 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TNDM shares. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, December 2nd. Canaccord Genuity Group lowered their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird lowered their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Citigroup lowered their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.81.

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 dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value 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 $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $37.06 on Monday. The business has a fifty day moving average of $34.85 and a two-hundred day moving average of $37.37. Tandem Diabetes Care, Inc. has a 52-week low of $21.85 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

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

About Tandem Diabetes Care

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.