abrdn plc Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

abrdn plc purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 144,451 shares of the medical device company's stock, valued at approximately $6,126,000. abrdn plc owned approximately 0.22% of Tandem Diabetes Care as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TNDM. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care during the second quarter valued at approximately $31,000. Headlands Technologies LLC purchased a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $35,000. Waldron Private Wealth LLC bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $50,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at $86,000.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded up $0.54 on Friday, hitting $31.91. 906,252 shares of the company's stock traded hands, compared to its average volume of 1,248,279. The firm has a market capitalization of $2.09 billion, a PE ratio of -15.27 and a beta of 1.36. The firm's 50-day moving average price is $39.89 and its two-hundred day moving average price is $41.90. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (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 analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. As a group, analysts expect that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group upgraded shares of Tandem Diabetes Care to a "hold" rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a "buy" rating and a $57.00 price target on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Finally, Barclays raised their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.13.

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.