Janney Montgomery Scott LLC Acquires 11,789 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Janney Montgomery Scott LLC increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDMFree Report) by 55.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,013 shares of the medical device company’s stock after buying an additional 11,789 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of Tandem Diabetes Care worth $977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Eminence Capital LP raised its position in Tandem Diabetes Care by 76.1% in the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after purchasing an additional 2,372,458 shares during the last quarter. Russell Investments Group Ltd. raised its position in Tandem Diabetes Care by 79.5% in the fourth quarter. Russell Investments Group Ltd. now owns 247,325 shares of the medical device company’s stock valued at $7,316,000 after purchasing an additional 109,505 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Tandem Diabetes Care in the fourth quarter valued at about $3,132,000. Raymond James & Associates increased its stake in shares of Tandem Diabetes Care by 128.5% in the fourth quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock valued at $2,721,000 after buying an additional 51,721 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Tandem Diabetes Care by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock valued at $7,623,000 after buying an additional 16,586 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on TNDM. Redburn Atlantic began coverage on Tandem Diabetes Care in a research note on Thursday. They set a “buy” rating and a $60.00 target price for the company. Lake Street Capital raised their target price on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. SVB Leerink raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Barclays raised their target price on Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $50.00 price objective (up previously from $35.00) on shares of Tandem Diabetes Care in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.58.

Read Our Latest Report on TNDM

Tandem Diabetes Care Stock Up 3.2 %

Tandem Diabetes Care stock opened at $53.43 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -24.62 and a beta of 1.10. The stock has a fifty day simple moving average of $39.35 and a two-hundred day simple moving average of $30.10. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $53.51. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last posted its earnings results on Thursday, May 2nd. The medical device company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.17. The business had revenue of $191.67 million during the quarter, compared to analyst estimates of $173.06 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. Equities analysts predict that Tandem Diabetes Care, Inc. will post -1.7 EPS for the current fiscal year.

Tandem Diabetes Care Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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