The Manufacturers Life Insurance Company Sells 631 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

The Manufacturers Life Insurance Company cut its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,349 shares of the medical device company’s stock after selling 631 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tandem Diabetes Care were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TNDM. Diversified Trust Co increased its holdings in Tandem Diabetes Care by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,635 shares of the medical device company’s stock worth $590,000 after purchasing an additional 1,462 shares in the last quarter. ORG Partners LLC acquired a new stake in Tandem Diabetes Care during the 2nd quarter worth approximately $31,000. Assenagon Asset Management S.A. boosted its position in Tandem Diabetes Care by 37.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 311,427 shares of the medical device company’s stock worth $12,547,000 after buying an additional 85,000 shares during the period. Nisa Investment Advisors LLC grew its holdings in Tandem Diabetes Care by 33.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,936 shares of the medical device company’s stock worth $239,000 after acquiring an additional 1,486 shares during the last quarter. Finally, MN Wealth Advisors LLC increased its position in Tandem Diabetes Care by 3.1% in the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after acquiring an additional 440 shares during the period.

Wall Street Analysts Forecast Growth

TNDM has been the subject of a number of analyst reports. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Barclays raised 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. Robert W. Baird dropped their price target on shares of 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. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Trading Up 5.3 %

Shares of TNDM stock opened at $33.81 on Wednesday. Tandem Diabetes Care, Inc. has a 12-month low of $21.85 and a 12-month high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a 50 day moving average of $33.25 and a 200-day moving average of $39.90. The firm has a market cap of $2.22 billion, a P/E ratio of -17.52 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share 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 company had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Transactions at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade 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 at the SEC website. Corporate insiders own 2.20% of the company’s stock.

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.