Champlain Investment Partners LLC Decreases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Champlain Investment Partners LLC lessened its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,469,161 shares of the medical device company’s stock after selling 160,366 shares during the quarter. Champlain Investment Partners LLC’s holdings in Tandem Diabetes Care were worth $62,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care in the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth $31,000. Waldron Private Wealth LLC purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter worth $50,000. Finally, Headlands Technologies LLC boosted its position in shares of Tandem Diabetes Care by 110.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after acquiring an additional 1,079 shares during the last quarter.

Insider Buying and Selling

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction 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. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $30.81 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. Tandem Diabetes Care, Inc. has a 52 week low of $18.45 and a 52 week high of $53.69. The company has a fifty day simple moving average of $36.42 and a two-hundred day simple moving average of $41.35.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) EPS. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their price objective on shares of 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. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target on the stock. Barclays increased their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

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.