Geode Capital Management LLC Has $64.72 Million Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Geode Capital Management LLC grew its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,525,816 shares of the medical device company's stock after purchasing an additional 18,187 shares during the period. Geode Capital Management LLC owned approximately 2.32% of Tandem Diabetes Care worth $64,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in Tandem Diabetes Care by 33.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,936 shares of the medical device company's stock worth $239,000 after acquiring an additional 1,486 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Tandem Diabetes Care by 17.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 494,313 shares of the medical device company's stock valued at $19,916,000 after purchasing an additional 73,397 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Tandem Diabetes Care by 14.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,569 shares of the medical device company's stock valued at $305,000 after buying an additional 934 shares in the last quarter. RiverPark Advisors LLC grew its stake in Tandem Diabetes Care by 9.6% during the second quarter. RiverPark Advisors LLC now owns 11,130 shares of the medical device company's stock worth $448,000 after buying an additional 977 shares during the last quarter. Finally, Legato Capital Management LLC increased its holdings in Tandem Diabetes Care by 60.2% during the 2nd quarter. Legato Capital Management LLC now owns 28,870 shares of the medical device company's stock valued at $1,163,000 after purchasing an additional 10,845 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Robert W. Baird cut their price target on 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. Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price objective on the stock. Citigroup reduced their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.81.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded up $2.64 on Friday, hitting $35.91. The company's stock had a trading volume of 4,334,886 shares, compared to its average volume of 1,585,730. Tandem Diabetes Care, Inc. has a fifty-two week low of $21.85 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock's 50 day moving average is $32.34 and its 200-day moving average is $38.88. The company has a market capitalization of $2.36 billion, a PE ratio of -18.61 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the prior year, the business posted ($0.38) EPS. The business's revenue was up 31.4% compared to the same quarter last year. Equities research analysts expect 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 the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares of the company's stock, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.