Simplify Asset Management Inc. Invests $4.86 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Simplify Asset Management Inc. purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 114,604 shares of the medical device company's stock, valued at approximately $4,860,000. Simplify Asset Management Inc. owned about 0.18% of Tandem Diabetes Care at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Tandem Diabetes Care by 1,567.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,635 shares of the medical device company's stock valued at $235,000 after acquiring an additional 6,237 shares in the last quarter. Sei Investments Co. raised its holdings in Tandem Diabetes Care by 125.8% in the 1st quarter. Sei Investments Co. now owns 17,349 shares of the medical device company's stock valued at $614,000 after acquiring an additional 9,666 shares in the last quarter. Headlands Technologies LLC acquired a new position in Tandem Diabetes Care in the 1st quarter valued at $35,000. State Board of Administration of Florida Retirement System raised its holdings in Tandem Diabetes Care by 4.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,179 shares of the medical device company's stock valued at $2,414,000 after acquiring an additional 2,654 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Tandem Diabetes Care by 9.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 40,230 shares of the medical device company's stock valued at $1,425,000 after acquiring an additional 3,463 shares in the last quarter.

Tandem Diabetes Care Trading Down 4.4 %

Shares of NASDAQ TNDM traded down $1.25 during trading on Friday, reaching $27.34. The company had a trading volume of 1,684,026 shares, compared to its average volume of 1,606,610. The company's fifty day moving average price is $37.46 and its 200-day moving average price is $41.60. Tandem Diabetes Care, Inc. has a 12 month low of $17.33 and a 12 month high of $53.69. The stock has a market cap of $1.80 billion, a P/E ratio of -14.17 and a beta of 1.36. 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 (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for 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 firm's revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.38) EPS. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

TNDM has been the subject of several analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 23rd. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a "buy" rating and a $57.00 price target for the company. Piper Sandler reissued an "overweight" rating and set a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tandem Diabetes Care presently has an average rating of "Moderate Buy" and a consensus price target of $54.25.

About Tandem Diabetes Care

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.