Renaissance Technologies LLC bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,227 shares of the medical device company’s stock, valued at approximately $1,116,000.
Several other large investors have also modified their holdings of TNDM. Caitong International Asset Management Co. Ltd grew its stake in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after buying an additional 593 shares during the last quarter. OP Asset Management Ltd acquired a new stake in Tandem Diabetes Care during the first quarter valued at approximately $35,000. Quarry LP raised its stake in Tandem Diabetes Care by 2,597.1% during the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after buying an additional 3,558 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in Tandem Diabetes Care by 36.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after buying an additional 909 shares in the last quarter.
Wall Street Analysts Forecast Growth
TNDM has been the subject of several research reports. The Goldman Sachs Group set a $21.00 target price on Tandem Diabetes Care in a research report on Wednesday, May 27th. Bank of America dropped their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $27.00 in a research note on Monday, June 1st. UBS Group began coverage on shares of Tandem Diabetes Care in a report on Tuesday, July 28th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Mizuho decreased their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $28.98.
Tandem Diabetes Care Stock Performance
TNDM stock opened at $22.72 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $10.25 and a 1 year high of $29.65. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -24.43 and a beta of 1.54. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. The stock’s fifty day moving average is $17.39 and its two-hundred day moving average is $18.98.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. During the same quarter in the prior year, the firm earned ($0.78) earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current year.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.
The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.
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