Point72 Asset Management L.P. Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 240,706 shares of the medical device company's stock, valued at approximately $10,208,000. Point72 Asset Management L.P. owned about 0.37% of Tandem Diabetes Care as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at about $31,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $50,000.

Insider Activity

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred 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 sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed 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

A number of research analysts have issued reports on the stock. Sanford C. Bernstein assumed 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 for the company. Canaccord Genuity Group reduced their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Morgan Stanley raised Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price target for the company. Finally, 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. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and an average target price of $54.25.

Tandem Diabetes Care Trading Down 0.5 %

TNDM stock traded down $0.16 during trading on Friday, reaching $30.11. 923,566 shares of the stock traded hands, compared to its average volume of 1,574,824. The business's 50 day moving average price is $33.61 and its 200-day moving average price is $40.15. The firm has a market capitalization of $1.98 billion, a PE ratio of -15.60 and a beta of 1.32. 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, Inc. has a 52-week low of $21.85 and a 52-week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to the consensus estimate 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 company's revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) earnings per share. As a group, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

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.