Lisanti Capital Growth LLC Decreases Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Lisanti Capital Growth LLC reduced its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 27.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,925 shares of the medical device company's stock after selling 43,335 shares during the quarter. Tandem Diabetes Care makes up about 1.2% of Lisanti Capital Growth LLC's portfolio, making the stock its 29th biggest holding. Lisanti Capital Growth LLC owned 0.18% of Tandem Diabetes Care worth $4,874,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TNDM. Fred Alger Management LLC increased its position in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after buying an additional 677,036 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company's stock valued at $16,252,000 after buying an additional 389,632 shares during the period. Kingdon Capital Management L.L.C. grew its position in Tandem Diabetes Care by 153.9% during the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company's stock worth $17,460,000 after buying an additional 298,880 shares in the last quarter. First Light Asset Management LLC increased its stake in Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company's stock worth $28,545,000 after acquiring an additional 233,405 shares during the period. Finally, Brown Capital Management LLC raised its holdings in Tandem Diabetes Care by 29.9% in the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company's stock valued at $33,801,000 after acquiring an additional 219,940 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TNDM. UBS Group upgraded Tandem Diabetes Care to a "hold" rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Robert W. Baird lowered their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Piper Sandler reiterated an "overweight" rating and set a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five investment 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM traded up $0.50 on Monday, reaching $31.10. 1,352,067 shares of the company's stock traded hands, compared to its average volume of 1,603,199. The stock's 50 day simple moving average is $38.73 and its two-hundred day simple moving average is $41.91. The stock has a market cap of $2.04 billion, a PE ratio of -15.85 and a beta of 1.36. Tandem Diabetes Care, Inc. has a 52-week low of $14.33 and a 52-week high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.38 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 for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the company earned ($0.38) earnings per share. Tandem Diabetes Care's revenue was up 31.4% compared to the same quarter last year. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal 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.