Jacobs Levy Equity Management Inc. Trims Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jacobs Levy Equity Management Inc. cut its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 53.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 574,676 shares of the medical device company's stock after selling 669,464 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.87% of Tandem Diabetes Care worth $24,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care in the third quarter valued at approximately $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new stake in Tandem Diabetes Care in the second quarter valued at approximately $31,000. Finally, Waldron Private Wealth LLC purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $50,000.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction 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 owns 195,190 shares of the company's stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TNDM shares. 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 research note on Thursday, November 7th. Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Barclays upped their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Royal Bank of Canada began coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price objective on the stock. Finally, Sanford C. Bernstein began coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM traded down $1.40 during trading hours on Wednesday, reaching $31.97. 481,244 shares of the company traded hands, compared to its average volume of 1,589,319. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $53.69. The stock has a fifty day simple moving average of $34.38 and a 200 day simple moving average of $40.54.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million for the quarter, compared to analyst estimates 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 for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

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.