Royce & Associates LP Increases Stock Position in Tandem Diabetes Care, Inc. $TNDM

Royce & Associates LP boosted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 650,250 shares of the medical device company’s stock after buying an additional 140,250 shares during the quarter. Royce & Associates LP owned approximately 0.96% of Tandem Diabetes Care worth $14,292,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at about $5,778,000. Mizuho Markets Americas LLC grew its position in Tandem Diabetes Care by 23.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 144,617 shares of the medical device company’s stock valued at $3,179,000 after buying an additional 27,255 shares during the period. Legato Capital Management LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at about $1,595,000. Leonteq Securities AG bought a new position in Tandem Diabetes Care during the fourth quarter valued at about $172,000. Finally, Creative Financial Designs Inc. ADV grew its position 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 during the period.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $14.82 on Thursday. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The firm has a market capitalization of $1.02 billion, a PE ratio of -10.59 and a beta of 1.64. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $29.65. The company has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $20.31.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.66) earnings per share. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, February 23rd. Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a research report on Friday, April 24th. Piper Sandler upgraded shares of Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and increased their price target for the company from $21.00 to $33.00 in a research report on Tuesday, March 17th. Mizuho set a $24.00 price target on shares of Tandem Diabetes Care in a research report on Friday, May 8th. Finally, Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

Tandem Diabetes Care 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.