Tandem Diabetes Care, Inc. $TNDM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 85.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 178,640 shares of the medical device company’s stock after selling 1,049,216 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Tandem Diabetes Care were worth $3,425,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNDM. Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after buying an additional 278,042 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after buying an additional 991,649 shares during the period. Jennison Associates LLC grew its stake in Tandem Diabetes Care by 42.3% during the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after buying an additional 601,260 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth $22,706,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Tandem Diabetes Care by 17.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock worth $37,001,000 after acquiring an additional 252,028 shares in the last quarter.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $15.83 on Tuesday. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $29.65. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -11.31 and a beta of 1.58. The firm’s fifty day moving average price is $16.87 and its 200 day moving average price is $19.85.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. During the same period in the prior year, the company posted ($0.66) EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent research reports. Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a report on Friday, April 24th. Barclays set a $55.00 price target on Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a research report on Tuesday, June 23rd. They issued a “hold” rating and a $15.50 price objective on the stock. Mizuho set a $24.00 price objective on Tandem Diabetes Care in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised Tandem Diabetes Care from a “buy” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $27.00 in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.12.

About Tandem Diabetes Care

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.