Public Employees Retirement Association of Colorado Has $308,000 Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Public Employees Retirement Association of Colorado reduced its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,650 shares of the medical device company’s stock after selling 455 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Tandem Diabetes Care were worth $308,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. ORG Partners LLC bought a new position in Tandem Diabetes Care in the 2nd quarter worth approximately $31,000. Headlands Technologies LLC acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth $35,000. MCF Advisors LLC increased its position in Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares during the period. Daiwa Securities Group Inc. acquired a new position in Tandem Diabetes Care during the 2nd quarter valued at $86,000. Finally, Signaturefd LLC boosted its holdings in Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares during the period.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several research reports. Morgan Stanley restated an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Wells Fargo & Company raised their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. 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 report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.36.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $42.45 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 50 day moving average of $42.18 and a 200-day moving average of $41.10. 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 has a market cap of $2.78 billion, a price-to-earnings ratio of -19.56 and a beta of 1.32.

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

Tandem Diabetes Care Company Profile

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.