Cerity Partners LLC Acquires 11,247 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Cerity Partners LLC lifted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,796 shares of the medical device company’s stock after purchasing an additional 11,247 shares during the quarter. Cerity Partners LLC’s holdings in Tandem Diabetes Care were worth $2,663,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at about $31,000. Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care during the third quarter valued at approximately $50,000. Finally, Headlands Technologies LLC grew its stake in Tandem Diabetes Care by 110.0% in the second quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after purchasing an additional 1,079 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Morgan Stanley restated an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target on the stock. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $30.63 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36. Tandem Diabetes Care, Inc. has a 52 week low of $18.45 and a 52 week high of $53.69. The firm’s 50-day simple moving average is $34.88 and its 200 day simple moving average is $40.79.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.38) earnings per share. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Activity

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Company 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.