Tandem Diabetes Care, Inc. $TNDM Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDMFree Report) by 67.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 598,096 shares of the medical device company’s stock after purchasing an additional 241,878 shares during the period. Aberdeen Group plc’s holdings in Tandem Diabetes Care were worth $7,261,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TNDM. CWM LLC boosted its holdings in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after buying an additional 2,025 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,717 shares during the period. 180 Wealth Advisors LLC purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth about $126,000. Finally, Praxis Investment Management Inc. acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $150,000.

Tandem Diabetes Care Stock Up 32.7%

Shares of TNDM opened at $24.57 on Friday. The stock has a 50 day moving average price of $20.91 and a 200 day moving average price of $17.01. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $35.12. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -8.00 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Tandem Diabetes Care had a negative return on equity of 70.01% and a negative net margin of 20.17%.The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

TNDM has been the subject of a number of analyst reports. Mizuho set a $22.00 price target on Tandem Diabetes Care and gave the stock a “neutral” rating in a report on Friday. Sanford C. Bernstein restated a “market perform” rating and issued a $25.00 price objective (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Wells Fargo & Company increased their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Bank of America raised shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $30.00 in a research note on Friday. Finally, TD Cowen initiated coverage on shares of Tandem Diabetes Care in a report on Tuesday, January 27th. They issued a “buy” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.50.

Read Our Latest Analysis on TNDM

Tandem Diabetes Care Company Profile

(Free Report)

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

Further Reading

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

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