Teacher Retirement System of Texas Increases Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Teacher Retirement System of Texas raised its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,465 shares of the medical device company’s stock after purchasing an additional 4,895 shares during the period. Teacher Retirement System of Texas’ holdings in Tandem Diabetes Care were worth $622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TNDM. Envestnet Portfolio Solutions Inc. increased its position in Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after buying an additional 1,184 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Tandem Diabetes Care by 17.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company’s stock worth $1,394,000 after acquiring an additional 11,048 shares during the period. Janney Montgomery Scott LLC grew its holdings in Tandem Diabetes Care by 27.1% during the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company’s stock worth $737,000 after acquiring an additional 8,210 shares during the period. Vanguard Group Inc. grew its holdings in Tandem Diabetes Care by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after acquiring an additional 77,451 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company’s stock valued at $808,000 after purchasing an additional 37,303 shares during the last quarter.

Tandem Diabetes Care Stock Down 3.5%

Shares of Tandem Diabetes Care stock opened at $15.20 on Wednesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -5.47 and a beta of 1.48. The stock has a 50-day simple moving average of $20.06 and a 200-day simple moving average of $24.10. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. Tandem Diabetes Care, Inc. has a 52-week low of $14.87 and a 52-week high of $48.24.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The business had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.65) earnings per share. On average, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TNDM shares. Piper Sandler decreased their price objective on Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Citigroup reiterated a “sell” rating and set a $14.00 target price (down previously from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday, July 9th. Stifel Nicolaus decreased their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut their target price on Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.71.

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.