Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Bought by Raymond James & Associates

Raymond James & Associates boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 128.5% in the fourth quarter, HoldingsChannel reports. The firm owned 91,985 shares of the medical device company’s stock after buying an additional 51,721 shares during the period. Raymond James & Associates’ holdings in Tandem Diabetes Care were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Tandem Diabetes Care by 45.1% during the first quarter. BlackRock Inc. now owns 9,207,560 shares of the medical device company’s stock valued at $373,919,000 after purchasing an additional 2,861,120 shares during the period. Vanguard Group Inc. raised its position in shares of Tandem Diabetes Care by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 6,306,724 shares of the medical device company’s stock worth $733,408,000 after purchasing an additional 146,577 shares during the last quarter. Eminence Capital LP raised its position in shares of Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after purchasing an additional 2,372,458 shares during the last quarter. State Street Corp raised its position in shares of Tandem Diabetes Care by 9.2% during the 2nd quarter. State Street Corp now owns 2,257,428 shares of the medical device company’s stock worth $55,397,000 after purchasing an additional 190,499 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Tandem Diabetes Care by 7.1% during the 1st quarter. Invesco Ltd. now owns 2,080,173 shares of the medical device company’s stock worth $241,904,000 after purchasing an additional 137,202 shares during the last quarter.

Tandem Diabetes Care Stock Down 1.1 %

Shares of NASDAQ TNDM opened at $33.50 on Monday. The company has a 50-day moving average of $29.12 and a 200 day moving average of $24.54. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $42.40. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.16 billion, a PE ratio of -9.74 and a beta of 1.12.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TNDM shares. StockNews.com downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and upped their price target for the stock from $24.00 to $37.00 in a research report on Tuesday, March 26th. Finally, Citigroup upped their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Hold” and an average price target of $37.00.

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.