Verition Fund Management LLC Has $1.35 Million Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Verition Fund Management LLC trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 34.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,743 shares of the medical device company's stock after selling 16,699 shares during the period. Verition Fund Management LLC's holdings in Tandem Diabetes Care were worth $1,346,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. MN Wealth Advisors LLC boosted its stake in shares of Tandem Diabetes Care by 3.1% in the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company's stock valued at $593,000 after buying an additional 440 shares in the last quarter. Signaturefd LLC boosted its holdings in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company's stock worth $93,000 after buying an additional 522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company's stock worth $603,000 after buying an additional 592 shares during the period. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the third quarter valued at about $28,000. Finally, Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $29,000.

Insider Transactions at Tandem Diabetes Care

In other 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 completion of the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TNDM. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 target price on the stock. Morgan Stanley raised Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price target for the company in a research report on Monday, December 2nd. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They set a "neutral" rating and a $46.00 target price on the stock. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded down $0.16 on Friday, reaching $30.11. 923,566 shares of the company were exchanged, compared to its average volume of 1,574,824. Tandem Diabetes Care, Inc. has a 1-year low of $21.85 and a 1-year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company's 50-day moving average is $33.61 and its two-hundred day moving average is $40.23. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -15.60 and a beta of 1.32.

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 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 the consensus estimate of $224.14 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The business's revenue was up 31.4% on a year-over-year basis. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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.