Acadian Asset Management LLC Purchases 125,644 Shares of Tandem Diabetes Care, Inc. $TNDM

Acadian Asset Management LLC raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 54.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,516 shares of the medical device company’s stock after acquiring an additional 125,644 shares during the quarter. Acadian Asset Management LLC owned approximately 0.54% of Tandem Diabetes Care worth $6,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its stake in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after purchasing an additional 525 shares during the last quarter. CWM LLC lifted its holdings in Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after buying an additional 2,025 shares during the period. Brooklyn Investment Group grew its position in shares of Tandem Diabetes Care by 417.8% in the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after buying an additional 2,741 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Tandem Diabetes Care by 186.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after buying an additional 2,717 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after buying an additional 1,471 shares during the period.

Analyst Ratings Changes

A number of analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Truist Financial reaffirmed a “hold” rating and issued a $17.00 target price (up from $16.00) on shares of Tandem Diabetes Care in a research report on Monday. Morgan Stanley boosted their price target on shares of Tandem Diabetes Care from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday. Oppenheimer began coverage on shares of Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Piper Sandler cut Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $30.00 to $14.00 in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and an average price target of $21.25.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $18.06 on Thursday. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $38.28. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $1.22 billion, a P/E ratio of -5.92 and a beta of 1.51. The stock’s 50 day moving average is $13.97 and its 200 day moving average is $16.20.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The business had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. During the same period in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Tandem Diabetes Care has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 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.