Royce & Associates LP Purchases Shares of 510,000 Tandem Diabetes Care, Inc. $TNDM

Royce & Associates LP acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the third quarter, Holdings Channel reports. The institutional investor acquired 510,000 shares of the medical device company’s stock, valued at approximately $6,191,000.

Several other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its holdings in Tandem Diabetes Care by 485.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 55.2% in the 3rd quarter. Intech Investment Management LLC now owns 73,493 shares of the medical device company’s stock valued at $892,000 after purchasing an additional 26,150 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter valued at about $513,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth about $97,000. Finally, GSA Capital Partners LLP purchased a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $1,201,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TNDM shares. Robert W. Baird set a $30.00 target price on Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. Barclays reaffirmed an “overweight” rating and set a $56.00 target price on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, February 23rd. Finally, Bank of America upgraded shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $15.00 to $30.00 in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.11.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $23.41 on Thursday. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55. The company has a 50 day moving average price of $21.42 and a 200 day moving average price of $17.82. The stock has a market capitalization of $1.60 billion, a P/E ratio of -7.63 and a beta of 1.63.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.