Versor Investments LP Purchases Shares of 6,800 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Versor Investments LP acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,800 shares of the medical device company’s stock, valued at approximately $274,000.

Several other hedge funds also recently modified their holdings of TNDM. Natixis Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 6.0% during the second quarter. Natixis Advisors LLC now owns 53,244 shares of the medical device company’s stock worth $2,145,000 after purchasing an additional 3,034 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at about $533,000. nVerses Capital LLC increased its position in Tandem Diabetes Care by 255.6% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the medical device company’s stock valued at $129,000 after acquiring an additional 2,300 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Tandem Diabetes Care in the second quarter worth about $2,911,000. Finally, Signaturefd LLC lifted its position in shares of Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after purchasing an additional 522 shares in the last quarter.

Analysts Set New Price Targets

TNDM has been the subject of several research analyst reports. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $57.00 in a research report on Wednesday, May 22nd. Morgan Stanley began coverage on Tandem Diabetes Care in a research note on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 price target on the stock. Wells Fargo & Company boosted their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. UBS Group raised Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Finally, Lake Street Capital raised their target price on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.36.

Tandem Diabetes Care Trading Down 0.8 %

NASDAQ TNDM opened at $42.40 on Friday. Tandem Diabetes Care, Inc. has a one year low of $13.82 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The firm has a market cap of $2.78 billion, a P/E ratio of -19.54 and a beta of 1.32. The stock’s 50-day moving average is $41.98 and its 200-day moving average is $39.31.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted ($0.30) EPS. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

About Tandem Diabetes Care

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.