Handelsbanken Fonder AB Increases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Handelsbanken Fonder AB boosted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 25.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,000 shares of the medical device company’s stock after purchasing an additional 4,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Tandem Diabetes Care were worth $933,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Tandem Diabetes Care by 1,481.5% during 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 purchasing an additional 136,592 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tandem Diabetes Care during the 1st quarter valued at about $540,000. Vanguard Group Inc. lifted its stake 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 valued at $249,732,000 after acquiring an additional 30,664 shares during the period. SG Americas Securities LLC bought a new position in Tandem Diabetes Care during the 1st quarter valued at about $5,227,000. Finally, Quantbot Technologies LP bought a new position in Tandem Diabetes Care during the 1st quarter valued at about $710,000.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $37.07 on Friday. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $53.69. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -17.74 and a beta of 1.33. The company’s 50 day moving average is $42.24 and its two-hundred day moving average is $41.85. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price on the stock. Barclays upped their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.13.

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.