Russell Investments Group Ltd. Raises Position in Tandem Diabetes Care, Inc. $TNDM

Russell Investments Group Ltd. boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 42.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,713 shares of the medical device company’s stock after buying an additional 59,619 shares during the period. Russell Investments Group Ltd. owned 0.29% of Tandem Diabetes Care worth $3,704,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Sessa Capital IM L.P. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth about $85,574,000. Nuveen LLC purchased a new position in Tandem Diabetes Care in the 1st quarter valued at about $5,907,000. Lisanti Capital Growth LLC purchased a new position in Tandem Diabetes Care in the second quarter valued at about $4,732,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $4,840,000. Finally, Acadian Asset Management LLC acquired a new position in Tandem Diabetes Care during the 1st quarter worth $4,457,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TNDM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Truist Financial reaffirmed a “hold” rating and set a $17.00 target price (up previously from $16.00) on shares of Tandem Diabetes Care in a research note on Monday, November 10th. Barclays upped their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wells Fargo & Company boosted their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley set a $23.00 price target on Tandem Diabetes Care and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and an average target price of $21.63.

Tandem Diabetes Care Stock Performance

TNDM opened at $20.92 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The company has a market cap of $1.42 billion, a PE ratio of -6.86 and a beta of 1.68. The stock has a 50-day moving average of $16.52 and a 200-day moving average of $15.99. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Tandem Diabetes Care 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.