Pura Vida Investments LLC grew its position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,914 shares of the medical device company’s stock after acquiring an additional 20,981 shares during the quarter. Tandem Diabetes Care comprises 2.3% of Pura Vida Investments LLC’s portfolio, making the stock its 15th biggest position. Pura Vida Investments LLC owned about 0.17% of Tandem Diabetes Care worth $3,680,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in TNDM. Gardner Lewis Asset Management L P purchased a new position in Tandem Diabetes Care in the fourth quarter valued at about $812,000. Lord Abbett & CO. LLC boosted its holdings in Tandem Diabetes Care by 25.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,810,966 shares of the medical device company’s stock valued at $68,762,000 after purchasing an additional 365,261 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tandem Diabetes Care by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 647,594 shares of the medical device company’s stock valued at $24,589,000 after purchasing an additional 61,922 shares during the last quarter. ARP Americas LP purchased a new position in Tandem Diabetes Care in the fourth quarter valued at about $505,000. Finally, California State Teachers Retirement System boosted its holdings in Tandem Diabetes Care by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 79,809 shares of the medical device company’s stock valued at $3,030,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.
NASDAQ:TNDM opened at $73.15 on Friday. Tandem Diabetes Care Inc has a 52 week low of $3.65 and a 52 week high of $74.75. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -28.69 and a beta of 0.69.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Tuesday, February 26th. The medical device company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.22. Tandem Diabetes Care had a negative return on equity of 67.92% and a negative net margin of 66.68%. The company had revenue of $76.20 million for the quarter, compared to the consensus estimate of $56.34 million. During the same quarter last year, the business posted ($1.23) EPS. Tandem Diabetes Care’s quarterly revenue was up 89.1% compared to the same quarter last year. On average, sell-side analysts expect that Tandem Diabetes Care Inc will post -0.72 earnings per share for the current year.
A number of brokerages recently commented on TNDM. Bank of America reissued a “neutral” rating and issued a $59.00 price target on shares of Tandem Diabetes Care in a report on Tuesday, March 5th. ValuEngine downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. Oppenheimer increased their price target on Tandem Diabetes Care from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Cowen increased their price target on Tandem Diabetes Care from $40.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Finally, Craig Hallum increased their price target on Tandem Diabetes Care from $59.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Tandem Diabetes Care has an average rating of “Buy” and a consensus price target of $59.00.
In other news, CAO Susan Morrison sold 60,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $67.79, for a total transaction of $4,067,400.00. Following the sale, the chief accounting officer now directly owns 53,745 shares in the company, valued at approximately $3,643,373.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian B. Hansen sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.00, for a total value of $720,000.00. Following the sale, the executive vice president now owns 11,381 shares in the company, valued at $819,432. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,088 shares of company stock worth $23,154,978. 9.30% of the stock is currently owned by company insiders.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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