Shell Asset Management Co. Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Shell Asset Management Co. purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,802 shares of the medical device company’s stock, valued at approximately $326,000.

A number of other hedge funds have also made changes to their positions in the business. CWM LLC raised its stake in shares of Tandem Diabetes Care by 21.5% in the 1st quarter. CWM LLC now owns 553 shares of the medical device company’s stock valued at $64,000 after acquiring an additional 98 shares during the period. Securian Asset Management Inc. grew its holdings in Tandem Diabetes Care by 1.8% during the 4th quarter. Securian Asset Management Inc. now owns 5,752 shares of the medical device company’s stock valued at $866,000 after purchasing an additional 100 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Tandem Diabetes Care by 0.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 35,688 shares of the medical device company’s stock valued at $5,372,000 after purchasing an additional 101 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Tandem Diabetes Care by 1.2% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,532 shares of the medical device company’s stock valued at $1,585,000 after purchasing an additional 120 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Tandem Diabetes Care by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,924 shares of the medical device company’s stock valued at $1,493,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Insider Transactions at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,762 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $92.91, for a total transaction of $999,897.42. Following the completion of the sale, the director now directly owns 205,190 shares in the company, valued at $19,064,202.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Leigh Vosseller acquired 500 shares of Tandem Diabetes Care stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $70.00 per share, for a total transaction of $35,000.00. Following the completion of the purchase, the chief financial officer now owns 9,118 shares of the company’s stock, valued at $638,260. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim D. Blickenstaff sold 10,762 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $92.91, for a total transaction of $999,897.42. Following the transaction, the director now directly owns 205,190 shares in the company, valued at approximately $19,064,202.90. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TNDM shares. Lake Street Capital decreased their price objective on shares of Tandem Diabetes Care from $200.00 to $150.00 in a report on Thursday. Raymond James reduced their price target on shares of Tandem Diabetes Care from $125.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday. Cowen reduced their price target on shares of Tandem Diabetes Care from $141.00 to $107.00 in a research report on Thursday. SVB Leerink restated a “market perform” rating on shares of Tandem Diabetes Care in a research report on Monday, April 18th. Finally, TheStreet downgraded shares of Tandem Diabetes Care from a “c-” rating to a “d+” rating in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.40.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $59.54 on Friday. The firm’s 50 day moving average is $60.98 and its 200-day moving average is $89.98. The stock has a market capitalization of $3.81 billion, a P/E ratio of 744.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.21 and a quick ratio of 5.60. Tandem Diabetes Care, Inc. has a 12-month low of $52.08 and a 12-month high of $155.86.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $175.91 million during the quarter, compared to analyst estimates of $168.21 million. Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post 0.35 EPS for the current fiscal year.

Tandem Diabetes Care Profile

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Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.