BNP Paribas Financial Markets Purchases 99,890 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

BNP Paribas Financial Markets grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 51.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,587 shares of the medical device company’s stock after acquiring an additional 99,890 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tandem Diabetes Care were worth $12,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care during the 3rd quarter valued at $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care during the third quarter worth about $29,000. ORG Wealth Partners LLC bought a new stake in shares of Tandem Diabetes Care during the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $31,000. Finally, Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care in the 3rd quarter valued at about $50,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNDM. Barclays boosted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Robert W. Baird lowered their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective on the stock. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, Morgan Stanley restated an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $30.63 on Monday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $34.88 and a two-hundred day simple moving average of $40.74. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results 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 the consensus estimate of $224.14 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. Analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.20% of the company’s stock.

Tandem Diabetes Care 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.