Granite Investment Partners LLC Sells 26,700 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Granite Investment Partners LLC decreased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 319,524 shares of the medical device company’s stock after selling 26,700 shares during the period. Granite Investment Partners LLC owned approximately 0.50% of Tandem Diabetes Care worth $14,363,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TNDM. PNC Financial Services Group Inc. raised its stake in Tandem Diabetes Care by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock valued at $726,000 after purchasing an additional 164 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Tandem Diabetes Care by 3.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock worth $654,000 after acquiring an additional 184 shares in the last quarter. Legal & General Group Plc grew its holdings in Tandem Diabetes Care by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock worth $5,790,000 after acquiring an additional 318 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Tandem Diabetes Care by 106.0% in the 3rd quarter. Signaturefd LLC now owns 620 shares of the medical device company’s stock valued at $30,000 after buying an additional 319 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Tandem Diabetes Care by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 27,343 shares of the medical device company’s stock valued at $1,308,000 after buying an additional 350 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM traded up $0.42 during trading on Friday, hitting $26.71. 275,901 shares of the stock traded hands, compared to its average volume of 1,215,405. The company has a fifty day moving average price of $37.71 and a two-hundred day moving average price of $40.02. Tandem Diabetes Care, Inc. has a 52-week low of $26.10 and a 52-week high of $75.47. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -8.29 and a beta of 0.98. The company has a quick ratio of 3.66, a current ratio of 4.43 and a debt-to-equity ratio of 0.84.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last announced its earnings results on Wednesday, February 22nd. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Tandem Diabetes Care had a negative net margin of 25.64% and a negative return on equity of 17.77%. The company had revenue of $223.45 million for the quarter, compared to analysts’ expectations of $221.99 million. During the same quarter in the previous year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.03 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TNDM. UBS Group began coverage on shares of Tandem Diabetes Care in a report on Tuesday, March 28th. They issued a “neutral” rating and a $45.00 price target on the stock. Raymond James cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating in a report on Monday, April 24th. Barclays decreased their price objective on shares of Tandem Diabetes Care from $76.00 to $71.00 in a research report on Thursday, February 23rd. Cowen decreased their price objective on shares of Tandem Diabetes Care from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. Finally, Craig Hallum decreased their price objective on shares of Tandem Diabetes Care from $80.00 to $74.00 in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.14.

Insider Activity

In related news, COO David B. Berger sold 10,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $41.19, for a total value of $411,900.00. Following the sale, the chief operating officer now directly owns 3,365 shares in the company, valued at approximately $138,604.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $41.19, for a total transaction of $411,900.00. Following the sale, the chief operating officer now directly owns 3,365 shares in the company, valued at $138,604.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leigh Vosseller acquired 3,015 shares of the stock in a transaction dated Friday, May 12th. The shares were bought at an average cost of $32.77 per share, with a total value of $98,801.55. Following the completion of the transaction, the chief financial officer now owns 5,660 shares of the company’s stock, valued at approximately $185,478.20. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Tandem Diabetes Care 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.