Raymond James & Associates Purchases 51,721 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James & Associates grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 128.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,985 shares of the medical device company’s stock after buying an additional 51,721 shares during the quarter. Raymond James & Associates owned 0.14% of Tandem Diabetes Care worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TNDM. RiverPark Advisors LLC bought a new position in Tandem Diabetes Care in the 4th quarter worth $27,000. State of Wyoming raised its holdings in Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after purchasing an additional 258 shares during the period. PNC Financial Services Group Inc. raised its holdings in Tandem Diabetes Care by 51.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after purchasing an additional 1,099 shares during the period. Stephens Inc. AR raised its holdings in Tandem Diabetes Care by 17.6% in the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after purchasing an additional 317 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Tandem Diabetes Care in the 4th quarter worth $89,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TNDM. StockNews.com cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and raised their target price for the stock from $24.00 to $37.00 in a report on Tuesday, March 26th. Finally, Citigroup increased their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Hold” and an average target price of $37.00.

Tandem Diabetes Care Trading Down 1.1 %

Shares of Tandem Diabetes Care stock opened at $33.50 on Monday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -9.74 and a beta of 1.12. The business has a 50-day moving average price of $29.12 and a 200-day moving average price of $24.54. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $42.40.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

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.