Simplify Asset Management Inc. Acquires New Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Simplify Asset Management Inc. purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 114,604 shares of the medical device company’s stock, valued at approximately $4,860,000. Simplify Asset Management Inc. owned about 0.18% of Tandem Diabetes Care at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Assetmark Inc. purchased a new position in Tandem Diabetes Care during the third quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter worth about $30,000. ORG Partners LLC purchased a new position in Tandem Diabetes Care during the 2nd quarter worth approximately $31,000. Headlands Technologies LLC acquired a new position in shares of Tandem Diabetes Care in the 1st quarter valued at $35,000. Finally, Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $50,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird decreased their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group dropped their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded down $0.13 on Friday, hitting $28.46. The company’s stock had a trading volume of 109,954 shares, compared to its average volume of 1,599,521. The company has a fifty day moving average price of $38.05 and a 200-day moving average price of $41.76. Tandem Diabetes Care, Inc. has a one year low of $17.33 and a one year high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share. Tandem Diabetes Care’s quarterly revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

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.