BNP Paribas Financial Markets Grows Stake in Tandem Diabetes Care, Inc. $TNDM

BNP Paribas Financial Markets boosted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 468.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,248,481 shares of the medical device company’s stock after buying an additional 1,028,866 shares during the period. BNP Paribas Financial Markets’ holdings in Tandem Diabetes Care were worth $27,442,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TNDM. Royal Bank of Canada increased its holdings in Tandem Diabetes Care by 30.5% during the 1st quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after purchasing an additional 49,408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tandem Diabetes Care by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after purchasing an additional 2,096 shares during the period. Millennium Management LLC increased its holdings in Tandem Diabetes Care by 41.1% during the 1st quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock worth $4,361,000 after purchasing an additional 66,245 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Tandem Diabetes Care during the 1st quarter worth $225,000. Finally, Goldman Sachs Group Inc. increased its holdings in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after purchasing an additional 34,069 shares during the period.

Tandem Diabetes Care Trading Up 7.9%

Shares of NASDAQ:TNDM opened at $19.45 on Friday. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $29.65. The business’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $20.34. The company has a market capitalization of $1.33 billion, a PE ratio of -13.89 and a beta of 1.58. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same period last year, the business posted ($0.66) EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Tandem Diabetes Care, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TNDM has been the topic of several research reports. Stifel Nicolaus raised their price objective on Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, February 23rd. UBS Group reiterated a “neutral” rating and issued a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Benchmark started coverage on Tandem Diabetes Care in a report on Monday, May 11th. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their price target on Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.84.

About Tandem Diabetes Care

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.