Stephens Investment Management Group LLC Purchases 138,263 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

by · The Markets Daily

Stephens Investment Management Group LLC grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,274,482 shares of the medical device company’s stock after buying an additional 138,263 shares during the quarter. Stephens Investment Management Group LLC owned 1.95% of Tandem Diabetes Care worth $54,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Tandem Diabetes Care by 79.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,788 shares of the medical device company’s stock valued at $171,000 after acquiring an additional 2,562 shares during the last quarter. Diversified Trust Co increased its position in Tandem Diabetes Care by 24.6% in the first quarter. Diversified Trust Co now owns 13,173 shares of the medical device company’s stock worth $466,000 after buying an additional 2,600 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Tandem Diabetes Care by 1,567.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,635 shares of the medical device company’s stock worth $235,000 after buying an additional 6,237 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tandem Diabetes Care by 6.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,485 shares of the medical device company’s stock worth $5,423,000 after buying an additional 8,627 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Tandem Diabetes Care by 1,481.5% during the 1st quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after buying an additional 136,592 shares in the last quarter.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $31.37 on Friday. The company has a market cap of $2.05 billion, a P/E ratio of -15.01 and a beta of 1.33. The business’s 50 day moving average price is $40.14 and its 200-day moving average price is $41.77. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05.

Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. The business had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) earnings per share. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TNDM. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target for the company. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.13.

Check Out Our Latest Analysis on TNDM

About Tandem Diabetes Care

(Free Report)

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.

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