Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Holdings Boosted by Fred Alger Management LLC

Fred Alger Management LLC lifted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 23.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 179,673 shares of the medical device company’s stock after acquiring an additional 34,583 shares during the period. Fred Alger Management LLC’s holdings in Tandem Diabetes Care were worth $8,597,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SNC grew its position in Tandem Diabetes Care by 359.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 55,371 shares of the medical device company’s stock valued at $2,650,000 after buying an additional 43,330 shares in the last quarter. Advent Capital Management DE bought a new position in Tandem Diabetes Care in the 3rd quarter valued at about $47,000. State Street Corp grew its position in Tandem Diabetes Care by 3.5% in the 3rd quarter. State Street Corp now owns 1,783,000 shares of the medical device company’s stock valued at $85,317,000 after buying an additional 59,836 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Tandem Diabetes Care by 2.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,957 shares of the medical device company’s stock valued at $1,721,000 after buying an additional 874 shares in the last quarter. Finally, Algert Global LLC grew its position in Tandem Diabetes Care by 3.7% in the 3rd quarter. Algert Global LLC now owns 61,181 shares of the medical device company’s stock valued at $2,928,000 after buying an additional 2,189 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.

Tandem Diabetes Care Price Performance

TNDM stock opened at $42.53 on Wednesday. The company has a current ratio of 5.14, a quick ratio of 4.47 and a debt-to-equity ratio of 0.64. Tandem Diabetes Care, Inc. has a one year low of $33.51 and a one year high of $123.96. The firm has a market capitalization of $2.74 billion, a PE ratio of -28.74 and a beta of 0.85. The firm has a 50-day moving average of $41.40 and a two-hundred day moving average of $44.67.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The medical device company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Tandem Diabetes Care had a negative net margin of 11.81% and a negative return on equity of 10.88%. The company had revenue of $223.45 million during the quarter, compared to analyst estimates of $221.99 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Craig Hallum decreased their target price on shares of Tandem Diabetes Care from $80.00 to $74.00 in a research report on Thursday, February 23rd. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, February 24th. Piper Sandler decreased their target price on shares of Tandem Diabetes Care from $70.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “underweight” rating to an “equal weight” rating and set a $43.00 price target for the company in a report on Tuesday, November 15th. Finally, Wolfe Research started coverage on shares of Tandem Diabetes Care in a report on Thursday, January 26th. They issued a “peer perform” rating for the company. Five equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.17.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $41.19, for a total transaction of $411,900.00. Following the completion of the sale, the chief operating officer now directly owns 3,365 shares of the company’s stock, valued at $138,604.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.20% of the company’s stock.

About Tandem Diabetes Care

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Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006, and is headquartered in San Diego, CA.