Park Avenue Securities LLC Has $224,000 Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Park Avenue Securities LLC increased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 31.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,708 shares of the medical device company’s stock after acquiring an additional 2,794 shares during the period. Park Avenue Securities LLC’s holdings in Tandem Diabetes Care were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Tandem Diabetes Care during the first quarter valued at approximately $37,000. Jones Financial Companies Lllp raised its holdings in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. raised its holdings in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after acquiring an additional 535 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after buying an additional 1,101 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TNDM shares. Stifel Nicolaus cut their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Barclays reduced their price objective on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley downgraded shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Finally, Canaccord Genuity Group raised their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.43.

Tandem Diabetes Care Stock Down 3.5%

Shares of NASDAQ TNDM opened at $20.04 on Tuesday. The company’s 50-day simple moving average is $20.01 and its 200-day simple moving average is $26.39. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $48.24. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -10.38 and a beta of 1.52. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.65) EPS. Equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.