Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,403 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 10.4% in the 4th quarter, HoldingsChannel reports. The firm owned 14,909 shares of the medical device company’s stock after purchasing an additional 1,403 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tandem Diabetes Care were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TNDM. RiverPark Advisors LLC bought a new position in shares of Tandem Diabetes Care in the fourth quarter valued at about $27,000. PNC Financial Services Group Inc. lifted its position in shares of Tandem Diabetes Care by 51.7% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after purchasing an additional 1,099 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of Tandem Diabetes Care during the fourth quarter worth approximately $104,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $112,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 2,858.2% in the fourth quarter. International Assets Investment Management LLC now owns 4,881 shares of the medical device company’s stock valued at $144,000 after purchasing an additional 4,716 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TNDM. Piper Sandler reiterated an “overweight” rating and issued a $50.00 price objective (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday. Robert W. Baird raised their price target on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday. SVB Leerink raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. 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, Leerink Partnrs upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.45.

Tandem Diabetes Care Stock Up 22.3 %

Shares of NASDAQ TNDM opened at $44.72 on Friday. Tandem Diabetes Care, Inc. has a 52-week low of $13.82 and a 52-week high of $47.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. The stock has a market cap of $2.89 billion, a P/E ratio of -13.00 and a beta of 1.10. The firm has a 50 day moving average price of $32.29 and a 200 day moving average price of $26.08.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) 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 analyst estimates of $204.86 million. Analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current year.

Tandem Diabetes Care Company 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.