Geode Capital Management LLC Grows Stock Position in Tandem Diabetes Care, Inc. $TNDM

Geode Capital Management LLC increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,606,336 shares of the medical device company’s stock after purchasing an additional 49,126 shares during the quarter. Geode Capital Management LLC’s holdings in Tandem Diabetes Care were worth $29,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of TNDM. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares in the last quarter. State of Wyoming increased its position in Tandem Diabetes Care by 49.1% in the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after buying an additional 1,471 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Tandem Diabetes Care by 8.0% in the 1st quarter. Advisors Asset Management Inc. now owns 22,460 shares of the medical device company’s stock worth $430,000 after acquiring an additional 1,664 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Tandem Diabetes Care by 8.9% during the second quarter. PNC Financial Services Group Inc. now owns 20,954 shares of the medical device company’s stock valued at $391,000 after buying an additional 1,719 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Tandem Diabetes Care by 11.8% during the 2nd quarter. Diversified Trust Co now owns 16,348 shares of the medical device company’s stock valued at $305,000 after acquiring an additional 1,725 shares in the last quarter.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $20.73 on Friday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -6.80 and a beta of 1.51. The company’s fifty day moving average is $15.57 and its 200-day moving average is $16.19. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. Tandem Diabetes Care’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on TNDM shares. Truist Financial restated a “hold” rating and set a $17.00 price target (up from $16.00) on shares of Tandem Diabetes Care in a research report on Monday, November 10th. UBS Group reduced their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus assumed coverage on Tandem Diabetes Care in a research report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective for the company. Finally, Morgan Stanley boosted their price target on shares of Tandem Diabetes Care from $13.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.25.

Tandem Diabetes Care 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.