Los Angeles Capital Management LLC Acquires New Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Los Angeles Capital Management LLC bought a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,205 shares of the medical device company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Tandem Diabetes Care by 11.2% in the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after purchasing an additional 431 shares in the last quarter. MN Wealth Advisors LLC raised its holdings in Tandem Diabetes Care by 3.1% during the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after acquiring an additional 440 shares during the period. Signaturefd LLC lifted its position in shares of Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tandem Diabetes Care by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares during the period. Finally, Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth about $29,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TNDM shares. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reduced their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Barclays boosted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Up 5.2 %

Shares of NASDAQ TNDM opened at $28.76 on Tuesday. Tandem Diabetes Care, Inc. has a 1 year low of $17.33 and a 1 year high of $53.69. The firm has a 50-day simple moving average of $37.46 and a two-hundred day simple moving average of $41.68. The company has a market cap of $1.89 billion, a P/E ratio of -14.90 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same period last year, the company earned ($0.38) EPS. Tandem Diabetes Care’s quarterly revenue was up 31.4% compared to the same quarter last year. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current 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.