MML Investors Services LLC grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 22.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,831 shares of the medical device company’s stock after purchasing an additional 887 shares during the quarter. MML Investors Services LLC’s holdings in Tandem Diabetes Care were worth $231,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TNDM. Signaturefd LLC lifted its stake in shares of Tandem Diabetes Care by 106.0% in the third quarter. Signaturefd LLC now owns 620 shares of the medical device company’s stock worth $30,000 after acquiring an additional 319 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Tandem Diabetes Care by 244.7% in the second quarter. Quadrant Capital Group LLC now owns 517 shares of the medical device company’s stock worth $31,000 after acquiring an additional 367 shares during the period. Van ECK Associates Corp acquired a new position in shares of Tandem Diabetes Care in the third quarter worth approximately $40,000. Rockefeller Capital Management L.P. lifted its stake in shares of Tandem Diabetes Care by 871.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,273 shares of the medical device company’s stock worth $60,000 after acquiring an additional 1,142 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in shares of Tandem Diabetes Care in the second quarter worth approximately $61,000. 96.50% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Robert W. Baird lowered their target price on Tandem Diabetes Care from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, February 24th. Cowen lowered their target price on Tandem Diabetes Care from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Wolfe Research began coverage on Tandem Diabetes Care in a report on Thursday, January 26th. They issued a “peer perform” rating for the company. Finally, Citigroup boosted their price objective on Tandem Diabetes Care from $50.00 to $55.00 in a report on Monday, December 12th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average price target of $63.17.
Tandem Diabetes Care Price Performance
Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $223.45 million for the quarter, compared to analyst estimates of $221.99 million. Tandem Diabetes Care had a negative return on equity of 10.88% and a negative net margin of 11.81%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -0.96 EPS for the current fiscal year.
Insider Activity at Tandem Diabetes Care
In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $40.25, for a total value of $402,500.00. Following the completion of the sale, the chief operating officer now owns 3,029 shares in the company, valued at approximately $121,917.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is currently owned by company insiders.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006, and is headquartered in San Diego, CA.
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