Cinctive Capital Management LP Sells 13,382 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Cinctive Capital Management LP cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 36.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,723 shares of the medical device company’s stock after selling 13,382 shares during the quarter. Cinctive Capital Management LP’s holdings in Tandem Diabetes Care were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. bought a new stake in Tandem Diabetes Care in the third quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in Tandem Diabetes Care during the 3rd quarter valued at $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care in the 2nd quarter worth $31,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth about $50,000.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $33.37 on Wednesday. The stock has a market capitalization of $2.19 billion, a PE ratio of -17.29 and a beta of 1.32. The stock’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $40.54. Tandem Diabetes Care, Inc. has a 12-month low of $20.52 and a 12-month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TNDM. Sanford C. Bernstein assumed coverage on shares of 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. Robert W. Baird decreased their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group dropped their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a report on Monday. Finally, Barclays raised their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and an average price target of $54.25.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

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.