Xact Kapitalforvaltning AB acquired a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,400 shares of the medical device company’s stock, valued at approximately $914,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Empowered Funds LLC purchased a new stake in Tandem Diabetes Care in the first quarter worth about $1,883,000. NumerixS Investment Technologies Inc purchased a new stake in Tandem Diabetes Care in the first quarter worth about $790,000. Swiss National Bank grew its holdings in Tandem Diabetes Care by 3.3% in the first quarter. Swiss National Bank now owns 94,100 shares of the medical device company’s stock worth $5,975,000 after purchasing an additional 3,000 shares during the period. Arabesque Asset Management Ltd purchased a new stake in Tandem Diabetes Care in the first quarter worth about $3,223,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Tandem Diabetes Care in the first quarter worth about $401,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

TNDM stock traded up $2.13 on Wednesday, hitting $70.22. The company had a trading volume of 72,915 shares, compared to its average volume of 1,896,942. Tandem Diabetes Care Inc has a 12-month low of $15.50 and a 12-month high of $74.81. The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.16 billion, a P/E ratio of -27.57 and a beta of 0.51.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). Tandem Diabetes Care had a negative return on equity of 40.76% and a negative net margin of 50.73%. The company had revenue of $66.00 million during the quarter, compared to analysts’ expectations of $47.55 million. During the same quarter in the prior year, the business posted ($1.82) EPS. The company’s revenue for the quarter was up 141.9% compared to the same quarter last year. As a group, equities analysts predict that Tandem Diabetes Care Inc will post -0.81 earnings per share for the current year.

In other Tandem Diabetes Care news, EVP David B. Berger sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $62.60, for a total value of $125,200.00. Following the transaction, the executive vice president now directly owns 3,765 shares in the company, valued at $235,689. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian B. Hansen sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.00, for a total transaction of $720,000.00. Following the completion of the transaction, the executive vice president now owns 11,381 shares in the company, valued at $819,432. The disclosure for this sale can be found here. Insiders sold 53,000 shares of company stock worth $3,505,580 in the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on TNDM. Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Piper Jaffray Companies upgraded shares of Tandem Diabetes Care to an “overweight” rating and set a $67.00 price target on the stock in a report on Wednesday, February 27th. Lake Street Capital increased their price target on shares of Tandem Diabetes Care from $60.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Craig Hallum increased their price target on shares of Tandem Diabetes Care from $59.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Cowen increased their price target on shares of Tandem Diabetes Care from $40.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Tandem Diabetes Care has an average rating of “Buy” and an average price target of $68.13.

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About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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