Allianz Asset Management GmbH Buys Shares of 10,700 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Allianz Asset Management GmbH bought a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,700 shares of the medical device company’s stock, valued at approximately $205,000.

Several other large investors also recently modified their holdings of the stock. Cerity Partners LLC grew its holdings in Tandem Diabetes Care by 32.2% during the first quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company’s stock valued at $1,456,000 after purchasing an additional 18,529 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Tandem Diabetes Care by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company’s stock valued at $6,103,000 after buying an additional 64,467 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Tandem Diabetes Care by 17.9% during the 1st 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 stake in shares of Tandem Diabetes Care by 27.1% during the 1st 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. Finally, GAMMA Investing LLC increased its holdings in Tandem Diabetes Care by 763.3% in the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company’s stock worth $808,000 after acquiring an additional 37,303 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TNDM shares. Canaccord Genuity Group upped their price objective on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup restated a “sell” rating and set a $14.00 price target (down from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Mizuho started coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a “neutral” rating and a $20.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial initiated coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They set a “hold” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and an average target price of $32.71.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $15.42 on Tuesday. Tandem Diabetes Care, Inc. has a 52-week low of $14.31 and a 52-week high of $47.60. The stock has a fifty day moving average of $18.19 and a 200 day moving average of $21.98. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.55 and a beta of 1.47.

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.