MetLife Investment Management LLC Raises Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

MetLife Investment Management LLC increased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 129.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 37,422 shares of the medical device company's stock after acquiring an additional 21,086 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Tandem Diabetes Care worth $1,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new position in Tandem Diabetes Care during the third quarter worth $30,000. ORG Partners LLC purchased a new position in shares of Tandem Diabetes Care during the second quarter worth $31,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter worth $50,000.

Tandem Diabetes Care Stock Performance

TNDM traded down $0.16 during trading on Friday, hitting $30.11. 923,127 shares of the stock were exchanged, compared to its average volume of 1,587,040. 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, Inc. has a 1-year low of $21.85 and a 1-year high of $53.69. The stock has a fifty day moving average price of $33.61 and a two-hundred day moving average price of $40.29. The firm has a market capitalization of $1.98 billion, a P/E ratio of -15.60 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million for the quarter, compared to analysts' expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company's quarterly revenue was up 31.4% on a year-over-year basis. 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TNDM. 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 on the stock. Canaccord Genuity Group began coverage on shares of 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. Royal Bank of Canada started 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 for the company. The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a "neutral" rating and a $46.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.25.

Insider Activity

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the director now owns 195,190 shares of the company's stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company's stock.

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.