Jennison Associates LLC Lowers Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jennison Associates LLC reduced its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,466,355 shares of the medical device company’s stock after selling 315,648 shares during the period. Jennison Associates LLC owned approximately 2.23% of Tandem Diabetes Care worth $52,818,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TNDM. Brooklyn Investment Group bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care in the third quarter worth approximately $30,000. Waldron Private Wealth LLC purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $50,000. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care during the third quarter valued at approximately $52,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein initiated 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 objective on the stock. Citigroup cut their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Canaccord Genuity Group decreased their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Monday, December 2nd. Finally, Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.81.

Insider Transactions at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

TNDM opened at $36.40 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a one year low of $21.94 and a one year high of $53.69. The business has a 50 day simple moving average of $34.85 and a two-hundred day simple moving average of $37.37.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (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 net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.38) earnings per share. As a group, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

About Tandem Diabetes Care

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.