Bridgewater Associates LP Raises Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bridgewater Associates LP raised its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 107.8% during the 3rd quarter, Holdings Channel reports. The fund owned 25,635 shares of the medical device company’s stock after purchasing an additional 13,299 shares during the period. Bridgewater Associates LP’s holdings in Tandem Diabetes Care were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Fred Alger Management LLC raised its holdings 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 valued at $87,595,000 after buying an additional 677,036 shares during the period. Victory Capital Management Inc. raised its holdings in Tandem Diabetes Care by 2,836.2% during the 2nd 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. First Light Asset Management LLC raised its holdings 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 valued at $28,545,000 after buying an additional 233,405 shares during the period. Chicago Capital LLC raised its holdings in Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after buying an additional 182,085 shares during the period. Finally, abrdn plc purchased a new stake in Tandem Diabetes Care during the 3rd quarter valued at $6,126,000.

Tandem Diabetes Care Price Performance

TNDM opened at $30.63 on Monday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36. Tandem Diabetes Care, Inc. has a 12-month low of $18.45 and a 12-month high of $53.69. The business’s fifty day simple moving average is $34.88 and its 200-day simple moving average is $40.74.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.38) EPS. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares in the company, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several recent research reports. Morgan Stanley restated an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Canaccord Genuity Group decreased their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Robert W. Baird cut their price objective 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and an average target price 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.