Fmr LLC Sells 328,206 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

FMR LLC cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,880 shares of the medical device company's stock after selling 328,206 shares during the period. FMR LLC owned about 0.86% of Tandem Diabetes Care worth $23,957,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cerity Partners LLC grew its holdings in shares of Tandem Diabetes Care by 21.8% in the third quarter. Cerity Partners LLC now owns 62,796 shares of the medical device company's stock valued at $2,663,000 after acquiring an additional 11,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tandem Diabetes Care by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company's stock valued at $24,855,000 after purchasing an additional 18,874 shares during the period. Landscape Capital Management L.L.C. grew its holdings in Tandem Diabetes Care by 10.7% during the third quarter. Landscape Capital Management L.L.C. now owns 13,554 shares of the medical device company's stock valued at $575,000 after purchasing an additional 1,313 shares during the period. Intech Investment Management LLC grew its holdings in Tandem Diabetes Care by 156.0% during the third quarter. Intech Investment Management LLC now owns 18,336 shares of the medical device company's stock valued at $778,000 after purchasing an additional 11,173 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Tandem Diabetes Care by 17.6% during the third quarter. Advisors Asset Management Inc. now owns 10,200 shares of the medical device company's stock valued at $433,000 after purchasing an additional 1,525 shares during the period.

Wall Street Analysts Forecast Growth

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

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $1.71 on Tuesday, reaching $33.81. The company's stock had a trading volume of 1,354,492 shares, compared to its average volume of 1,586,153. 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 12-month low of $21.85 and a 12-month high of $53.69. The company has a market capitalization of $2.22 billion, a P/E ratio of -17.52 and a beta of 1.33. The stock's 50 day simple moving average is $33.25 and its 200-day simple moving average is $39.90.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data 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. 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 quarter last year, the business posted ($0.38) earnings per share. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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 value of $300,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by 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.