Oppenheimer & Co. Inc. Grows Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Oppenheimer & Co. Inc. increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 368.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,125 shares of the medical device company's stock after acquiring an additional 20,549 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Tandem Diabetes Care were worth $1,108,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Fred Alger Management LLC increased its position in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company's stock valued at $16,252,000 after purchasing an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. grew its position in shares of Tandem Diabetes Care by 153.9% in the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company's stock valued at $17,460,000 after purchasing an additional 298,880 shares in the last quarter. First Light Asset Management LLC grew its position in shares of Tandem Diabetes Care by 49.1% in the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company's stock valued at $28,545,000 after purchasing an additional 233,405 shares in the last quarter. Finally, Brown Capital Management LLC grew its position in shares of Tandem Diabetes Care by 29.9% in the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company's stock valued at $33,801,000 after purchasing an additional 219,940 shares in the last quarter.

Tandem Diabetes Care Stock Down 3.1 %

TNDM stock traded down $0.89 on Tuesday, reaching $27.87. 1,344,288 shares of the company traded hands, compared to its average volume of 1,604,687. Tandem Diabetes Care, Inc. has a one year low of $17.33 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company has a market cap of $1.83 billion, a P/E ratio of -14.44 and a beta of 1.36. The firm has a fifty day simple moving average of $37.19 and a 200-day simple moving average of $41.62.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same quarter last year, the company earned ($0.38) EPS. The firm's revenue for the quarter was up 31.4% on a year-over-year basis. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TNDM shares. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a "buy" rating and a $57.00 price target for the company. Wells Fargo & Company upped their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Canaccord Genuity Group cut their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.25.

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.