Sector Gamma AS Purchases 59,019 Shares of Tandem Diabetes Care, Inc. $TNDM

Sector Gamma AS grew its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 28.0% in the third quarter, HoldingsChannel.com reports. The fund owned 269,542 shares of the medical device company’s stock after buying an additional 59,019 shares during the quarter. Sector Gamma AS’s holdings in Tandem Diabetes Care were worth $3,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Tandem Diabetes Care by 54.0% in the 2nd quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock valued at $6,676,000 after acquiring an additional 125,644 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Tandem Diabetes Care by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 39,660 shares of the medical device company’s stock valued at $739,000 after purchasing an additional 3,269 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Tandem Diabetes Care by 6.3% in the second quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock valued at $27,123,000 after purchasing an additional 86,235 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Tandem Diabetes Care in the 2nd quarter worth approximately $585,000. Finally, Dynamic Technology Lab Private Ltd raised its position in Tandem Diabetes Care by 122.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock worth $488,000 after purchasing an additional 14,377 shares during the last quarter.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $19.90 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33. The firm has a market capitalization of $1.35 billion, a P/E ratio of -6.52 and a beta of 1.68. The business has a 50-day moving average of $21.27 and a 200-day moving average of $16.48. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $37.93.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). The business had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. Tandem Diabetes Care’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) EPS. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $25.00 target price on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Citigroup raised their price target on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Robert W. Baird set a $30.00 price objective on Tandem Diabetes Care and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Wells Fargo & Company raised their target price on shares of 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, Truist Financial set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.00.

About Tandem Diabetes Care

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.