Voya Investment Management LLC purchased a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,542 shares of the medical device company’s stock, valued at approximately $386,000.
Several other large investors have also added to or reduced their stakes in TNDM. BlackRock Inc. lifted its stake in shares of Tandem Diabetes Care by 6,936.3% in the second quarter. BlackRock Inc. now owns 2,935,537 shares of the medical device company’s stock worth $64,641,000 after acquiring an additional 2,893,817 shares in the last quarter. Fred Alger Management Inc. increased its holdings in Tandem Diabetes Care by 9,750.9% in the second quarter. Fred Alger Management Inc. now owns 1,970,184 shares of the medical device company’s stock valued at $43,383,000 after buying an additional 1,950,184 shares during the last quarter. Millennium Management LLC bought a new stake in Tandem Diabetes Care in the first quarter valued at about $4,225,000. Emerald Advisers Inc. PA bought a new stake in Tandem Diabetes Care in the second quarter valued at about $17,671,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Tandem Diabetes Care in the second quarter valued at about $15,536,000. Institutional investors and hedge funds own 62.74% of the company’s stock.
TNDM has been the subject of several research analyst reports. Robert W. Baird reissued a “buy” rating and issued a $31.00 price objective on shares of Tandem Diabetes Care in a report on Monday, July 23rd. Lake Street Capital boosted their price objective on Tandem Diabetes Care from $35.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 20th. Zacks Investment Research lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. BidaskClub raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Finally, Berenberg Bank initiated coverage on Tandem Diabetes Care in a report on Thursday, August 30th. They issued a “buy” rating and a $50.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.73.
NASDAQ:TNDM opened at $40.19 on Thursday. The company has a market cap of $2.28 billion, a PE ratio of -3.12 and a beta of 0.36. Tandem Diabetes Care Inc has a 52 week low of $2.14 and a 52 week high of $52.55. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.02 and a quick ratio of 2.43.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Monday, July 30th. The medical device company reported ($1.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.82). The firm had revenue of $34.10 million during the quarter, compared to the consensus estimate of $29.68 million. The company’s revenue was up 60.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) earnings per share. Equities research analysts anticipate that Tandem Diabetes Care Inc will post -1.41 EPS for the current year.
Tandem Diabetes Care Company Profile
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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