abrdn plc acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 144,451 shares of the medical device company’s stock, valued at approximately $6,126,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TNDM. Jennison Associates LLC lifted its holdings in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after acquiring an additional 1,265,534 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after acquiring an additional 677,036 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock worth $16,252,000 after acquiring an additional 389,632 shares during the period. Kingdon Capital Management L.L.C. lifted its holdings in shares of Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after acquiring an additional 298,880 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after acquiring an additional 233,405 shares during the period.
Tandem Diabetes Care Trading Up 1.7 %
Shares of NASDAQ TNDM opened at $31.91 on Friday. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69. The company has a market cap of $2.09 billion, a PE ratio of -15.27 and a beta of 1.36. 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 company has a 50-day moving average of $39.89 and a two-hundred day moving average of $41.83.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on TNDM. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.13.
Check Out Our Latest Stock Report on TNDM
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.
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