Brown Capital Management LLC Reduces Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Brown Capital Management LLC decreased its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 19.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 739,096 shares of the medical device company's stock after selling 175,359 shares during the quarter. Brown Capital Management LLC owned about 1.13% of Tandem Diabetes Care worth $31,345,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TNDM. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tandem Diabetes Care during the 1st quarter valued at approximately $540,000. Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock valued at $249,732,000 after purchasing an additional 30,664 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company's stock worth $1,108,000 after buying an additional 20,549 shares in the last quarter. abrdn plc bought a new position in Tandem Diabetes Care during the 3rd quarter worth about $6,126,000. Finally, LMR Partners LLP increased its holdings in Tandem Diabetes Care by 235.5% during the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company's stock valued at $1,434,000 after buying an additional 23,743 shares during the period.

Tandem Diabetes Care Trading Up 2.0 %

NASDAQ TNDM traded up $0.59 during mid-day trading on Thursday, reaching $30.74. 1,525,984 shares of the stock were exchanged, compared to its average volume of 1,607,936. Tandem Diabetes Care, Inc. has a 1-year low of $18.42 and a 1-year high of $53.69. The stock has a market capitalization of $2.02 billion, a PE ratio of -15.62 and a beta of 1.36. The business's fifty day simple moving average is $36.68 and its 200 day simple moving average is $41.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same period in the previous year, the company posted ($0.38) EPS. The company's revenue was up 31.4% compared to the same quarter last year. On average, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TNDM shares. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 target price on the stock. Royal Bank of Canada started 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. Robert W. Baird decreased their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group cut their price target on shares of 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, Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a "buy" rating and a $57.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Moderate Buy" and an average target price of $54.25.

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.