Van ECK Associates Corp Buys Shares of 831 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Van ECK Associates Corp bought a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 831 shares of the medical device company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNDM. Fifth Third Bancorp increased its position in Tandem Diabetes Care by 358.3% during the 2nd quarter. Fifth Third Bancorp now owns 440 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 344 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Tandem Diabetes Care by 244.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 517 shares of the medical device company’s stock worth $31,000 after buying an additional 367 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Tandem Diabetes Care during the 2nd quarter worth approximately $61,000. CWM LLC boosted its holdings in shares of Tandem Diabetes Care by 88.2% during the 2nd quarter. CWM LLC now owns 1,041 shares of the medical device company’s stock worth $62,000 after buying an additional 488 shares in the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 96.50% of the company’s stock.

Insider Activity at Tandem Diabetes Care

In other news, COO David B. Berger sold 10,000 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $40.25, for a total transaction of $402,500.00. Following the completion of the sale, the chief operating officer now directly owns 3,029 shares of the company’s stock, valued at approximately $121,917.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of research analyst reports. Lake Street Capital cut their price target on Tandem Diabetes Care from $150.00 to $60.00 in a report on Thursday, November 3rd. Robert W. Baird cut their price target on Tandem Diabetes Care from $76.00 to $45.00 in a report on Thursday, November 3rd. Piper Sandler cut their target price on Tandem Diabetes Care from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Thursday, January 12th. Finally, Barclays started coverage on Tandem Diabetes Care in a report on Monday, October 17th. They issued an “overweight” rating and a $75.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Tandem Diabetes Care Trading Up 3.7 %

NASDAQ TNDM opened at $42.70 on Friday. The firm has a market capitalization of $2.75 billion, a P/E ratio of -39.91 and a beta of 0.87. The business has a fifty day simple moving average of $41.95 and a 200 day simple moving average of $49.14. Tandem Diabetes Care, Inc. has a 12 month low of $33.51 and a 12 month high of $125.54. The company has a current ratio of 4.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.67.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The medical device company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.24). The company had revenue of $204.55 million during the quarter, compared to analysts’ expectations of $205.88 million. Tandem Diabetes Care had a negative net margin of 8.59% and a negative return on equity of 8.34%. On average, analysts predict that Tandem Diabetes Care, Inc. will post -0.76 EPS for the current fiscal year.

Tandem Diabetes Care Profile

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