Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 34.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,914 shares of the medical device company’s stock after buying an additional 2,286 shares during the period. Park Avenue Securities LLC’s holdings in Tandem Diabetes Care were worth $321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bellevue Group AG increased its holdings in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care during the third quarter valued at $10,208,000. Victory Capital Management Inc. increased its stake in Tandem Diabetes Care by 45.6% during the third quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company’s stock valued at $24,905,000 after purchasing an additional 183,877 shares during the last quarter. Chicago Capital LLC raised its holdings in shares of Tandem Diabetes Care by 22.2% during the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after purchasing an additional 182,085 shares during the period. Finally, abrdn plc bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $6,126,000.

Insider Transactions at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Up 2.8 %

TNDM stock opened at $36.50 on Friday. The firm’s 50-day moving average is $34.15 and its two-hundred day moving average is $37.75. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -18.91 and a beta of 1.29. Tandem Diabetes Care, Inc. has a 52 week low of $21.85 and a 52 week high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.38) earnings per share. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TNDM shares. Citigroup lowered their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird lowered their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Monday, December 2nd. Finally, Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.81.

About Tandem Diabetes Care

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.