State of New Jersey Common Pension Fund D Has $1.90 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State of New Jersey Common Pension Fund D increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 24.6% in the third quarter, HoldingsChannel reports. The firm owned 44,776 shares of the medical device company’s stock after purchasing an additional 8,837 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Tandem Diabetes Care were worth $1,899,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TNDM. Crossmark Global Holdings Inc. bought a new stake in Tandem Diabetes Care during the 3rd quarter worth about $200,000. Assetmark Inc. bought a new stake in Tandem Diabetes Care during the 3rd quarter worth about $29,000. JB Capital LLC grew its holdings in Tandem Diabetes Care by 7.2% during the 3rd quarter. JB Capital LLC now owns 33,729 shares of the medical device company’s stock worth $1,430,000 after acquiring an additional 2,259 shares during the last quarter. Hanseatic Management Services Inc. grew its holdings in Tandem Diabetes Care by 5.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock worth $591,000 after acquiring an additional 710 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Tandem Diabetes Care by 12.2% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after acquiring an additional 138,263 shares during the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $27.34 on Monday. The company has a fifty day moving average price of $37.46 and a 200 day moving average price of $41.64. Tandem Diabetes Care, Inc. has a 1-year low of $17.33 and a 1-year high of $53.69. The firm has a market cap of $1.80 billion, a PE ratio of -14.17 and a beta of 1.36. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. Research analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group reduced their target price 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. Canaccord Genuity Group assumed 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 on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

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.