Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 134.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 197,583 shares of the medical device company's stock after purchasing an additional 113,355 shares during the period. JPMorgan Chase & Co. owned approximately 0.30% of Tandem Diabetes Care worth $8,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Daiwa Securities Group Inc. acquired a new stake in shares of Tandem Diabetes Care during the second quarter worth about $86,000. Headlands Technologies LLC increased its position in shares of Tandem Diabetes Care by 110.0% during the second quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company's stock worth $83,000 after acquiring an additional 1,079 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at $1,448,000. Oppenheimer Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 21.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 49,193 shares of the medical device company's stock valued at $1,982,000 after purchasing an additional 8,813 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Tandem Diabetes Care by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 251,014 shares of the medical device company's stock worth $10,113,000 after purchasing an additional 19,004 shares during the period.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $65.00 price objective on the stock. The Goldman Sachs Group started coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Citigroup dropped their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, December 11th. Robert W. Baird decreased their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Moderate Buy" and an average target price of $53.81.

Tandem Diabetes Care Trading Down 0.3 %

Shares of TNDM traded down $0.10 on Tuesday, hitting $36.11. 252,391 shares of the stock traded hands, compared to its average volume of 866,204. The firm has a market capitalization of $2.37 billion, a P/E ratio of -18.71 and a beta of 1.29. The stock's 50 day moving average is $33.30 and its two-hundred day moving average is $38.03. Tandem Diabetes Care, Inc. has a 1 year low of $21.85 and a 1 year high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. The business had revenue of $243.97 million for the quarter, compared to analyst estimates 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 company's revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) EPS. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care 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.