Stephens Investment Management Group LLC increased its position in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 277.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 498,027 shares of the medical device company’s stock after purchasing an additional 366,152 shares during the period. Stephens Investment Management Group LLC’s holdings in Tandem Diabetes Care were worth $29,374,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TNDM. Tuttle Tactical Management bought a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $303,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tandem Diabetes Care by 10.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,210 shares of the medical device company’s stock worth $189,000 after buying an additional 316 shares during the last quarter. Coastal Investment Advisors Inc. lifted its position in Tandem Diabetes Care by 31.3% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 26,264 shares of the medical device company’s stock worth $1,552,000 after buying an additional 6,260 shares during the last quarter. First Hawaiian Bank bought a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $412,000. Finally, River & Mercantile Asset Management LLP bought a new stake in Tandem Diabetes Care in the 2nd quarter worth approximately $2,432,000. 79.30% of the stock is owned by institutional investors.

Tandem Diabetes Care stock traded up $0.55 during trading hours on Friday, reaching $63.58. The company had a trading volume of 1,274,163 shares, compared to its average volume of 1,264,980. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.53 and a quick ratio of 2.21. The company has a 50-day moving average price of $62.12 and a 200 day moving average price of $63.69. Tandem Diabetes Care Inc has a 12-month low of $26.40 and a 12-month high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.20. The business had revenue of $93.26 million for the quarter, compared to analysts’ expectations of $69.95 million. Tandem Diabetes Care had a negative return on equity of 19.31% and a negative net margin of 19.55%. The business’s quarterly revenue was up 173.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. Analysts forecast that Tandem Diabetes Care Inc will post -0.46 EPS for the current year.

In other news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $72.00, for a total transaction of $144,000.00. Following the transaction, the executive vice president now directly owns 5,311 shares of the company’s stock, valued at $382,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian B. Hansen sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.01, for a total value of $350,050.00. Following the transaction, the executive vice president now directly owns 7,991 shares in the company, valued at $559,449.91. The disclosure for this sale can be found here. Insiders have sold 469,692 shares of company stock worth $32,862,319 over the last three months. Insiders own 6.90% of the company’s stock.

A number of equities analysts have commented on TNDM shares. Oppenheimer lifted their price target on Tandem Diabetes Care from $80.00 to $84.00 in a research note on Friday, August 2nd. BidaskClub cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. ValuEngine cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Guggenheim started coverage on Tandem Diabetes Care in a research note on Thursday. They issued a “buy” rating and a $76.00 price target on the stock. Finally, UBS Group raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Tandem Diabetes Care has an average rating of “Buy” and a consensus target price of $75.31.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

Further Reading: Fundamental Analysis

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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