Tandem Diabetes Care, Inc. $TNDM Stock Position Reduced by Brown Capital Management LLC

Brown Capital Management LLC trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 34.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363,352 shares of the medical device company’s stock after selling 187,855 shares during the quarter. Brown Capital Management LLC owned approximately 0.54% of Tandem Diabetes Care worth $4,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in shares of Tandem Diabetes Care by 3.5% during the third quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after purchasing an additional 657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tandem Diabetes Care by 8.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock worth $319,000 after acquiring an additional 1,384 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in Tandem Diabetes Care by 10.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock worth $285,000 after acquiring an additional 1,399 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Tandem Diabetes Care by 8.9% in 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 acquiring an additional 1,719 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Tandem Diabetes Care by 12.2% during the third quarter. Diversified Trust Co now owns 18,339 shares of the medical device company’s stock valued at $223,000 after purchasing an additional 1,991 shares during the last quarter.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $25.00 price target on shares of Tandem Diabetes Care in a report on Friday, January 9th. Robert W. Baird set a $30.00 target price on Tandem Diabetes Care and gave the company an “outperform” rating in a research note on Tuesday, December 16th. TD Cowen began coverage on shares of Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 price target for the company. Canaccord Genuity Group set a $35.00 price objective on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Hold” and a consensus target price of $24.06.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $20.09 on Tuesday. The stock has a market cap of $1.36 billion, a P/E ratio of -6.59 and a beta of 1.68. The firm’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $16.66. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $37.78. 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 (NASDAQ:TNDM) last released its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting the consensus estimate of ($0.31). The firm had revenue of $249.25 million for 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) EPS. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Tandem Diabetes Care Company 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.