Tandem Diabetes Care (TNDM) Stock Declined in Q3 Due to Competition

Chartwell Investment Partners, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund slightly underperformed relative to its benchmark Russell 2000 Growth Index. The letter noted that although there is a positive momentum in the US market, still there are many challenges that slow growth. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in its Q3 2022 investor letter. Headquartered in San Diego, California, Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is a medical device company. On December 12, 2022, Tandem Diabetes Care, Inc. (NASDAQ:TNDM) stock closed at $43.64 per share. One-month return of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was 3.24% and its shares lost 66.60% of their value over the last 52 weeks. Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has a market capitalization of $2.806 billion.

Carillon Tower Advisers made the following comment about Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in its Q3 2022 investor letter:

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) disappointed investors during the quarter with lackluster earnings. Tandem produces insulin pump systems for diabetic patients. Their growth in the US is slowing due to a new product being launched by a competitor. While market share doesn’t typically shift radically in this device market, investor sentiment is definitely strongly against Tandem for now.”

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Tandem Diabetes Care, Inc. (NASDAQ:TNDM) at the end of the third quarter, which was 32 in the previous quarter.

We discussed Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in another article and shared the best diabetes stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.