State of New Jersey Common Pension Fund D Buys New Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State of New Jersey Common Pension Fund D purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 35,939 shares of the medical device company’s stock, valued at approximately $1,448,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of Tandem Diabetes Care by 256.1% during the fourth quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock valued at $7,098,000 after buying an additional 172,570 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Tandem Diabetes Care by 1,481.5% in the 1st quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after acquiring an additional 136,592 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tandem Diabetes Care during the 1st quarter valued at about $540,000. Vanguard Group Inc. increased its holdings in Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after purchasing an additional 30,664 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Tandem Diabetes Care in the first quarter worth approximately $5,227,000.

Analyst Upgrades and Downgrades

TNDM has been the subject of several recent research reports. Oppenheimer upped their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Barclays increased their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.36.

Tandem Diabetes Care Trading Down 1.8 %

NASDAQ:TNDM opened at $44.64 on Thursday. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $53.69. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $42.17 and its 200 day moving average is $40.99. The stock has a market capitalization of $2.88 billion, a PE ratio of -20.57 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. During the same period last year, the business posted ($0.30) earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

About Tandem Diabetes Care

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.