Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 54.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,648 shares of the medical device company's stock after buying an additional 21,282 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Tandem Diabetes Care worth $2,575,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock valued at $249,732,000 after purchasing an additional 30,664 shares during the last quarter. Jennison Associates LLC increased its position in shares of Tandem Diabetes Care by 98.1% in the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company's stock valued at $90,512,000 after purchasing an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock valued at $87,595,000 after buying an additional 677,036 shares during the last quarter. Bellevue Group AG grew its position in shares of Tandem Diabetes Care by 2.0% in the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company's stock valued at $71,949,000 after buying an additional 39,571 shares during the last quarter. Finally, Chicago Capital LLC grew its position in shares of Tandem Diabetes Care by 22.2% in the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company's stock valued at $42,543,000 after buying an additional 182,085 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on TNDM shares. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a "buy" rating and a $57.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They issued a "buy" rating and a $57.00 target price on the stock. Finally, Robert W. Baird increased their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and a consensus target price of $55.13.
Check Out Our Latest Research Report on TNDM
Tandem Diabetes Care Trading Down 3.1 %
Shares of NASDAQ TNDM traded down $0.99 during midday trading on Thursday, hitting $31.37. The stock had a trading volume of 760,496 shares, compared to its average volume of 1,585,005. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -15.12 and a beta of 1.33. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $40.36 and a 200 day moving average price of $41.84.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.07. The business had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company's revenue was up 13.3% on a year-over-year basis. During the same period last year, the business posted ($0.30) EPS. On average, analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.
Tandem Diabetes Care Profile
(
Free Report)
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.
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