Credit Suisse AG Buys 1,607 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Credit Suisse AG increased its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,974 shares of the medical device company’s stock after purchasing an additional 1,607 shares during the quarter. Credit Suisse AG’s holdings in Tandem Diabetes Care were worth $3,205,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Fifth Third Bancorp boosted its stake in Tandem Diabetes Care by 358.3% in the second quarter. Fifth Third Bancorp now owns 440 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 344 shares during the last quarter. Signaturefd LLC boosted its stake in Tandem Diabetes Care by 106.0% in the third quarter. Signaturefd LLC now owns 620 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 319 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Tandem Diabetes Care by 244.7% in the second quarter. Quadrant Capital Group LLC now owns 517 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 367 shares during the last quarter. Van ECK Associates Corp bought a new position in Tandem Diabetes Care in the third quarter valued at approximately $40,000. Finally, Rockefeller Capital Management L.P. boosted its stake in Tandem Diabetes Care by 871.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,273 shares of the medical device company’s stock valued at $60,000 after acquiring an additional 1,142 shares during the last quarter. 96.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Friday, December 16th. The shares were sold at an average price of $40.25, for a total value of $402,500.00. Following the sale, the chief operating officer now directly owns 3,029 shares in the company, valued at approximately $121,917.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TNDM shares. Barclays reduced their price objective on shares of Tandem Diabetes Care from $76.00 to $71.00 in a research note on Thursday, February 23rd. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, February 23rd. Cowen cut their target price on shares of Tandem Diabetes Care from $107.00 to $61.00 in a report on Thursday, November 3rd. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, February 24th. Finally, Citigroup increased their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 in a report on Monday, December 12th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and an average target price of $63.17.

Tandem Diabetes Care Stock Up 7.1 %

Shares of TNDM stock opened at $39.32 on Friday. The company has a current ratio of 5.14, a quick ratio of 4.47 and a debt-to-equity ratio of 0.64. Tandem Diabetes Care, Inc. has a 1 year low of $33.51 and a 1 year high of $123.96. The firm’s fifty day moving average price is $41.83 and its two-hundred day moving average price is $45.29. The firm has a market capitalization of $2.54 billion, a P/E ratio of -26.71 and a beta of 0.85.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Tandem Diabetes Care had a negative net margin of 11.81% and a negative return on equity of 10.88%. The firm had revenue of $223.45 million for the quarter, compared to analyst estimates of $221.99 million. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Tandem Diabetes Care, Inc. will post -0.96 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

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Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006, and is headquartered in San Diego, CA.