State Street Corp Has $112.63 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State Street Corp grew its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 3.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,655,736 shares of the medical device company's stock after acquiring an additional 83,172 shares during the period. State Street Corp owned about 4.04% of Tandem Diabetes Care worth $112,630,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bellevue Group AG lifted its position in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after acquiring an additional 307,624 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company's stock worth $1,587,000 after acquiring an additional 21,086 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company's stock worth $1,108,000 after acquiring an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Tandem Diabetes Care by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company's stock valued at $11,540,000 after acquiring an additional 66,687 shares in the last quarter. Finally, LMR Partners LLP lifted its position in shares of Tandem Diabetes Care by 235.5% in the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company's stock worth $1,434,000 after purchasing an additional 23,743 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TNDM. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $65.00 price objective on the stock. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price objective for the company. Citigroup cut their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Canaccord Genuity Group lowered their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They set a "neutral" rating and a $46.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.81.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM traded up $0.92 during trading hours on Monday, hitting $33.58. 1,250,036 shares of the company traded hands, compared to its average volume of 1,581,638. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a twelve month low of $21.85 and a twelve month high of $53.69. The firm has a 50-day moving average of $32.82 and a 200 day moving average of $39.51. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -17.40 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results 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. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million during the quarter, compared to analysts' expectations of $224.14 million. During the same quarter last year, the company earned ($0.38) earnings per share. The firm's revenue was up 31.4% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

About Tandem Diabetes Care

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.