JPMorgan Chase & Co. Buys 113,355 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

JPMorgan Chase & Co. boosted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 134.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,583 shares of the medical device company’s stock after acquiring an additional 113,355 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tandem Diabetes Care were worth $8,379,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TNDM. Daiwa Securities Group Inc. bought a new stake in Tandem Diabetes Care in the 2nd quarter valued at $86,000. Headlands Technologies LLC lifted its position in Tandem Diabetes Care by 110.0% in the 2nd quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after acquiring an additional 1,079 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Tandem Diabetes Care in the 2nd quarter valued at $1,448,000. Oppenheimer Asset Management Inc. lifted its position in Tandem Diabetes Care by 21.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 49,193 shares of the medical device company’s stock valued at $1,982,000 after acquiring an additional 8,813 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Tandem Diabetes Care by 8.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 251,014 shares of the medical device company’s stock valued at $10,113,000 after acquiring an additional 19,004 shares in the last quarter.

Tandem Diabetes Care Stock Up 0.6 %

Shares of TNDM opened at $36.21 on Tuesday. Tandem Diabetes Care, Inc. has a 52 week low of $21.85 and a 52 week high of $53.69. The firm has a market cap of $2.38 billion, a P/E ratio of -18.76 and a beta of 1.29. The firm’s 50-day simple moving average is $33.30 and its 200 day simple moving average is $38.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the prior year, the business earned ($0.38) EPS. Tandem Diabetes Care’s quarterly revenue was up 31.4% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TNDM shares. Citigroup cut their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.81.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is owned by company insiders.

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.