Royce & Associates LP Purchases 140,250 Shares of Tandem Diabetes Care, Inc. $TNDM

Royce & Associates LP increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 27.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 650,250 shares of the medical device company’s stock after acquiring an additional 140,250 shares during the quarter. Royce & Associates LP’s holdings in Tandem Diabetes Care were worth $14,292,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Counterpoint Mutual Funds LLC bought a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $513,000. Vanguard Group Inc. boosted its position in shares of Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after acquiring an additional 278,042 shares during the period. Aberdeen Group plc boosted its position in shares of Tandem Diabetes Care by 67.9% in the third quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock valued at $7,261,000 after acquiring an additional 241,878 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $26,988,000. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Tandem Diabetes Care by 36.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after acquiring an additional 991,649 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TNDM. Weiss Ratings upgraded shares of Tandem Diabetes Care from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a research report on Friday, April 24th. 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, Morgan Stanley lifted their target price on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

Tandem Diabetes Care Trading Up 1.9%

TNDM stock opened at $14.82 on Thursday. The company has a market capitalization of $1.02 billion, a PE ratio of -10.59 and a beta of 1.64. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65. The company’s 50 day moving average price is $18.94 and its two-hundred day moving average price is $20.31. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.66) earnings per share. As a group, analysts predict that Tandem Diabetes Care, Inc. will post -0.79 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

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.