CI Investments Inc. Increases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

CI Investments Inc. raised its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1,120.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,807 shares of the medical device company’s stock after buying an additional 2,577 shares during the quarter. CI Investments Inc.’s holdings in Tandem Diabetes Care were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TNDM. Hoover Financial Advisors Inc. purchased a new stake in Tandem Diabetes Care during the 2nd quarter valued at approximately $26,000. CSat Investment Advisory L.P. bought a new stake in shares of Tandem Diabetes Care during the second quarter worth $33,000. Private Advisor Group LLC bought a new stake in shares of Tandem Diabetes Care during the second quarter worth $35,000. CWM LLC lifted its position in shares of Tandem Diabetes Care by 69.0% during the second quarter. CWM LLC now owns 681 shares of the medical device company’s stock worth $67,000 after purchasing an additional 278 shares during the last quarter. Finally, Ovata Capital Management Ltd bought a new stake in shares of Tandem Diabetes Care during the second quarter worth $95,000.

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 16,802 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $106.88, for a total value of $1,795,797.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan Morrison sold 7,522 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $114.00, for a total value of $857,508.00. Following the completion of the transaction, the executive vice president now directly owns 13,778 shares of the company’s stock, valued at $1,570,692. The disclosure for this sale can be found here. Insiders sold 153,371 shares of company stock valued at $17,506,093 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on TNDM shares. Piper Sandler lifted their price objective on Tandem Diabetes Care from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Zacks Investment Research downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating and set a $118.00 price objective for the company. in a report on Wednesday, September 30th. BidaskClub downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Tuesday, November 17th. Oppenheimer reiterated a “buy” rating and issued a $120.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 21st. Finally, ValuEngine upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Tandem Diabetes Care has a consensus rating of “Buy” and an average target price of $115.80.

Tandem Diabetes Care stock opened at $93.40 on Friday. The company has a quick ratio of 4.18, a current ratio of 4.72 and a debt-to-equity ratio of 0.73. Tandem Diabetes Care, Inc. has a 52 week low of $43.69 and a 52 week high of $123.74. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -124.53 and a beta of 0.42. The stock has a 50-day moving average price of $111.52 and a 200 day moving average price of $100.70.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 5th. The medical device company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.07). Tandem Diabetes Care had a negative return on equity of 12.88% and a negative net margin of 10.29%. The firm had revenue of $123.60 million for the quarter, compared to analyst estimates of $115.16 million. During the same period last year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -0.27 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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