Vanguard Group Inc. Has $85.75 Million Stock Position in Tandem Diabetes Care, Inc. $TNDM

Vanguard Group Inc. lowered its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 7,063,314 shares of the medical device company’s stock after selling 306,516 shares during the period. Vanguard Group Inc. owned 0.10% of Tandem Diabetes Care worth $85,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TNDM. Nisa Investment Advisors LLC increased its position in shares of Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,717 shares in the last quarter. CoreCap Advisors LLC grew its position in Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 3,468 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Tandem Diabetes Care by 218.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the medical device company’s stock worth $171,000 after buying an additional 6,290 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $126,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Tandem Diabetes Care in the 1st quarter valued at about $225,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays reaffirmed an “overweight” rating and set a $56.00 price target on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Bank of America upgraded shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and increased their price target for the company from $15.00 to $30.00 in a research note on Friday, February 20th. Canaccord Genuity Group set a $35.00 price objective on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley upped their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.11.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $22.63 on Friday. The stock has a 50-day moving average price of $21.42 and a two-hundred day moving average price of $17.85. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $29.65. The company has a market capitalization of $1.55 billion, a PE ratio of -7.37 and a beta of 1.63. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00.

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

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.