Jacobs Levy Equity Management Inc. Increases Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 189.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,661,013 shares of the medical device company’s stock after buying an additional 1,086,337 shares during the period. Jacobs Levy Equity Management Inc. owned 2.53% of Tandem Diabetes Care worth $59,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock worth $683,000 after buying an additional 362 shares during the last quarter. Bank of Montreal Can lifted its holdings in Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after buying an additional 409 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after buying an additional 525 shares during the last quarter. Assetmark Inc. lifted its holdings in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after buying an additional 535 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after buying an additional 541 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TNDM shares. Royal Bank of Canada decreased their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Barclays reduced their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group reduced their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $35.00 to $25.00 in a report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.81.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $22.98 on Monday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $18.66 and its two-hundred day moving average is $28.14. Tandem Diabetes Care, Inc. has a 12-month low of $15.75 and a 12-month high of $53.69. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.91 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current 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.