Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 45.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,247 shares of the medical device company's stock after acquiring an additional 183,877 shares during the quarter. Victory Capital Management Inc. owned 0.90% of Tandem Diabetes Care worth $24,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TNDM. Los Angeles Capital Management LLC purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth about $263,000. State of New Jersey Common Pension Fund D boosted its holdings in Tandem Diabetes Care by 24.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,776 shares of the medical device company's stock worth $1,899,000 after acquiring an additional 8,837 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Tandem Diabetes Care in the third quarter valued at approximately $200,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $29,000. Finally, JB Capital LLC lifted its position in shares of Tandem Diabetes Care by 7.2% during the third quarter. JB Capital LLC now owns 33,729 shares of the medical device company's stock worth $1,430,000 after purchasing an additional 2,259 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price target on the stock. 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 target for the company. UBS Group raised shares of Tandem Diabetes Care to a "hold" rating in a report on Friday, August 2nd. Piper Sandler reissued an "overweight" rating and set a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a "buy" rating and a $57.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded up $1.30 during trading on Monday, hitting $28.64. 721,574 shares of the stock were exchanged, compared to its average volume of 1,602,538. The stock has a market cap of $1.88 billion, a PE ratio of -14.51 and a beta of 1.36. The stock's fifty day moving average is $37.46 and its 200 day moving average is $41.68. Tandem Diabetes Care, Inc. has a 12 month low of $17.33 and a 12 month high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

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