Royce & Associates LP Makes New Investment in Tandem Diabetes Care, Inc. $TNDM

Royce & Associates LP acquired a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 510,000 shares of the medical device company’s stock, valued at approximately $6,191,000. Royce & Associates LP owned approximately 0.75% of Tandem Diabetes Care at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after buying an additional 657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Tandem Diabetes Care by 8.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock valued at $319,000 after buying an additional 1,384 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Tandem Diabetes Care by 10.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after buying an additional 1,399 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Tandem Diabetes Care by 8.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 20,954 shares of the medical device company’s stock worth $391,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Diversified Trust Co increased its stake in Tandem Diabetes Care by 12.2% in the 3rd quarter. Diversified Trust Co now owns 18,339 shares of the medical device company’s stock worth $223,000 after acquiring an additional 1,991 shares during the last quarter.

Tandem Diabetes Care Trading Down 1.4%

TNDM opened at $23.41 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average is $21.42 and its two-hundred day moving average is $17.82. The company has a market capitalization of $1.60 billion, a P/E ratio of -7.63 and a beta of 1.63. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

TNDM has been the subject of a number of research reports. Barclays reiterated an “overweight” rating and set a $56.00 target price on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $25.00 price objective (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Mizuho set a $22.00 price objective on shares of Tandem Diabetes Care and gave the stock a “neutral” rating in a research note on Friday, February 20th. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, February 23rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.11.

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.