Assenagon Asset Management S.A. Has $3.54 Million Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Assenagon Asset Management S.A. lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 74.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 98,231 shares of the medical device company’s stock after selling 279,334 shares during the period. Assenagon Asset Management S.A.’s holdings in Tandem Diabetes Care were worth $3,538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at $30,000. Waldron Private Wealth LLC bought a new stake in Tandem Diabetes Care in the third quarter valued at $50,000. Finally, McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care during the third quarter worth $52,000.

Analysts Set New Price Targets

TNDM has been the topic of several analyst reports. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Citigroup decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and an average target price of $53.81.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $35.30 on Wednesday. Tandem Diabetes Care, Inc. has a 1 year low of $21.85 and a 1 year high of $53.69. The company’s 50-day moving average is $33.64 and its two-hundred day moving average is $37.90. 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 cap of $2.32 billion, a PE ratio of -18.29 and a beta of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) 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 net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the business posted ($0.38) earnings per share. Tandem Diabetes Care’s revenue was up 31.4% compared to the same quarter last year. Equities 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 related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Tandem Diabetes Care Company 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.