32,600 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, Holdings Channel reports. The fund purchased 32,600 shares of the medical device company’s stock, valued at approximately $964,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNDM. SG Americas Securities LLC boosted its holdings in shares of Tandem Diabetes Care by 70.9% in the 3rd quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock worth $488,000 after buying an additional 9,751 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 76.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 6,025 shares of the medical device company’s stock worth $125,000 after buying an additional 2,615 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $133,000. Coronation Fund Managers Ltd. boosted its holdings in shares of Tandem Diabetes Care by 70.8% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 354,904 shares of the medical device company’s stock worth $7,371,000 after buying an additional 147,058 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Tandem Diabetes Care by 11.8% in the 3rd quarter. HighMark Wealth Management LLC now owns 27,170 shares of the medical device company’s stock worth $564,000 after buying an additional 2,870 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.27.

Tandem Diabetes Care Price Performance

TNDM stock opened at $35.12 on Thursday. The firm has a 50 day moving average of $30.51 and a 200-day moving average of $25.18. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $40.74. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.21 and a beta of 1.12.

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

Tandem Diabetes Care Profile

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.