Manchester Capital Management LLC Acquires New Position in Tandem Diabetes Care Inc (TNDM)

Manchester Capital Management LLC acquired a new position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) during the 1st quarter, HoldingsChannel reports. The fund acquired 6,503 shares of the medical device company’s stock, valued at approximately $413,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Tandem Diabetes Care by 98.8% during the third quarter. Vanguard Group Inc. now owns 3,792,662 shares of the medical device company’s stock worth $162,478,000 after purchasing an additional 1,884,560 shares in the last quarter. Columbus Circle Investors lifted its position in shares of Tandem Diabetes Care by 1,896.9% during the fourth quarter. Columbus Circle Investors now owns 848,842 shares of the medical device company’s stock worth $32,231,000 after purchasing an additional 806,335 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Tandem Diabetes Care by 130.1% during the fourth quarter. Deutsche Bank AG now owns 1,037,695 shares of the medical device company’s stock worth $39,400,000 after purchasing an additional 586,684 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Tandem Diabetes Care by 25.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,810,966 shares of the medical device company’s stock worth $68,762,000 after purchasing an additional 365,261 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Tandem Diabetes Care by 7.5% during the fourth quarter. BlackRock Inc. now owns 4,201,695 shares of the medical device company’s stock worth $159,538,000 after purchasing an additional 292,389 shares in the last quarter. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

TNDM traded down $0.28 during mid-day trading on Wednesday, hitting $67.15. The stock had a trading volume of 1,923 shares, compared to its average volume of 1,959,949. The firm has a market cap of $3.92 billion, a PE ratio of -26.44 and a beta of 0.63. Tandem Diabetes Care Inc has a 1-year low of $11.62 and a 1-year high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). The firm had revenue of $66.00 million during the quarter, compared to analyst estimates of $47.55 million. Tandem Diabetes Care had a negative return on equity of 40.76% and a negative net margin of 50.73%. The company’s revenue for the quarter was up 141.9% on a year-over-year basis. During the same quarter last year, the business posted ($1.82) earnings per share. Research analysts forecast that Tandem Diabetes Care Inc will post -0.88 earnings per share for the current fiscal year.

TNDM has been the topic of several analyst reports. ValuEngine lowered shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Oppenheimer increased their price objective on shares of Tandem Diabetes Care from $68.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Craig Hallum restated a “buy” rating and issued a $84.00 price objective (up from $70.00) on shares of Tandem Diabetes Care in a report on Wednesday, May 1st. Bank of America restated a “neutral” rating and issued a $65.00 price objective on shares of Tandem Diabetes Care in a report on Friday, May 17th. Finally, Stifel Nicolaus increased their price objective on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Tandem Diabetes Care currently has a consensus rating of “Buy” and an average target price of $68.13.

In other Tandem Diabetes Care news, CFO Leigh Vosseller sold 10,000 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $70.45, for a total value of $704,500.00. Following the sale, the chief financial officer now directly owns 12,009 shares in the company, valued at $846,034.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Susan Morrison sold 60,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $67.79, for a total transaction of $4,067,400.00. Following the completion of the sale, the chief accounting officer now owns 53,745 shares in the company, valued at $3,643,373.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 347,300 shares of company stock worth $22,717,159. Company insiders own 6.90% of the company’s stock.

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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 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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