Jennison Associates LLC Sells 187,623 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jennison Associates LLC lowered its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,782,003 shares of the medical device company's stock after selling 187,623 shares during the quarter. Jennison Associates LLC owned approximately 2.72% of Tandem Diabetes Care worth $75,575,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock worth $249,732,000 after acquiring an additional 30,664 shares in the last quarter. Fred Alger Management LLC boosted its stake in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company's stock worth $71,949,000 after purchasing an additional 39,571 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Tandem Diabetes Care by 12.2% during the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company's stock worth $54,051,000 after purchasing an additional 138,263 shares during the last quarter. Finally, Chicago Capital LLC increased its stake in shares of Tandem Diabetes Care by 22.2% in the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company's stock valued at $42,543,000 after buying an additional 182,085 shares in the last quarter.

Tandem Diabetes Care Trading Up 8.2 %

NASDAQ TNDM opened at $30.15 on Thursday. Tandem Diabetes Care, Inc. has a 12 month low of $17.87 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $36.68 and a 200-day moving average of $41.42. The company has a market cap of $1.98 billion, a PE ratio of -15.62 and a beta of 1.36.

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, topping the consensus estimate 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 company 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 business earned ($0.38) EPS. Tandem Diabetes Care's revenue for the quarter was up 31.4% compared to the same quarter last year. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on TNDM shares. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price target on the stock. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a "buy" rating and a $57.00 price objective for the company. UBS Group upgraded Tandem Diabetes Care to a "hold" rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, Morgan Stanley reissued an "equal weight" rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.