Wellington Management Group LLP decreased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) by 16.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 871,811 shares of the medical device company’s stock after selling 170,953 shares during the quarter. Wellington Management Group LLP owned about 1.25% of Tandem Diabetes Care worth $13,156,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in Tandem Diabetes Care by 4.6% in the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock worth $290,000 after buying an additional 579 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after buying an additional 593 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Tandem Diabetes Care by 1.1% during the fourth quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock valued at $1,253,000 after acquiring an additional 617 shares in the last quarter. LPL Financial LLC increased its position in shares of Tandem Diabetes Care by 1.8% during the fourth quarter. LPL Financial LLC now owns 39,590 shares of the medical device company’s stock valued at $870,000 after acquiring an additional 716 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Tandem Diabetes Care by 7.0% in the 4th quarter. Captrust Financial Advisors now owns 13,111 shares of the medical device company’s stock worth $288,000 after acquiring an additional 860 shares during the last quarter.
Tandem Diabetes Care Price Performance
Tandem Diabetes Care stock opened at $19.90 on Tuesday. The stock has a market cap of $1.38 billion, a PE ratio of -21.40 and a beta of 1.55. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. Tandem Diabetes Care, Inc. has a one year low of $11.46 and a one year high of $29.65. The stock has a fifty day moving average of $19.21 and a 200 day moving average of $19.24.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on TNDM shares. Truist Financial reaffirmed a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. Zacks Research lowered Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $27.00 in a research note on Monday, June 1st. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Citigroup reaffirmed a “neutral” rating and set a $21.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.34.
Read Our Latest Stock Analysis on Tandem Diabetes Care
Tandem Diabetes Care Profile
Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.
The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.
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