Assenagon Asset Management S.A. Invests $26.99 Million in Tandem Diabetes Care, Inc. $TNDM

Assenagon Asset Management S.A. purchased a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,227,856 shares of the medical device company’s stock, valued at approximately $26,988,000. Assenagon Asset Management S.A. owned approximately 1.81% of Tandem Diabetes Care at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares during the last quarter. Quarry LP raised its holdings in Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after acquiring an additional 3,558 shares during the last quarter. GAMMA Investing LLC lifted its position in Tandem Diabetes Care by 308.1% in the 4th quarter. GAMMA Investing LLC now owns 4,542 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 3,429 shares in the last quarter. CoreCap Advisors LLC lifted its position in Tandem Diabetes Care by 270.3% in the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after acquiring an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in Tandem Diabetes Care by 485.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after purchasing an additional 4,269 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, February 23rd. Robert W. Baird set a $30.00 price objective on Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Morgan Stanley lifted their price objective on Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. UBS Group reissued a “neutral” rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Finally, Canaccord Genuity Group set a $35.00 target price on shares of Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.22.

Tandem Diabetes Care Trading Down 1.0%

Tandem Diabetes Care stock opened at $24.26 on Thursday. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a market cap of $1.66 billion, a P/E ratio of -7.90 and a beta of 1.63. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. The business has a 50-day simple moving average of $21.66 and a two-hundred day simple moving average of $18.97.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The business had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.