Eventide Asset Management LLC purchased a new stake in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 275,000 shares of the medical device company’s stock, valued at approximately $1,364,000. Eventide Asset Management LLC owned about 0.55% of Tandem Diabetes Care as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TNDM. Gabelli Funds LLC bought a new position in Tandem Diabetes Care during the 1st quarter valued at about $102,000. Cetera Advisor Networks LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $117,000. Element Capital Management LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $184,000. A.R.T. Advisors LLC increased its position in Tandem Diabetes Care by 284.4% in the 1st quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock valued at $191,000 after acquiring an additional 28,499 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in Tandem Diabetes Care by 1,051.3% in the 1st quarter. First Mercantile Trust Co. now owns 44,866 shares of the medical device company’s stock valued at $223,000 after acquiring an additional 40,969 shares in the last quarter. 47.09% of the stock is owned by hedge funds and other institutional investors.
TNDM opened at $19.62 on Wednesday. Tandem Diabetes Care Inc has a 1-year low of $2.14 and a 1-year high of $20.71. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 6.45. The stock has a market capitalization of $996.85 million, a price-to-earnings ratio of -1.52 and a beta of -0.10.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, April 26th. The medical device company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.44). The firm had revenue of $27.30 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period last year, the company posted ($0.75) EPS. Tandem Diabetes Care’s revenue for the quarter was up 43.7% compared to the same quarter last year. equities research analysts forecast that Tandem Diabetes Care Inc will post -1.47 EPS for the current year.
Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Zacks Investment Research cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. MED raised their price objective on shares of Tandem Diabetes Care from $15.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday. Oppenheimer set a $15.00 price objective on shares of Tandem Diabetes Care and gave the company a “buy” rating in a research report on Monday, May 21st. Finally, Cowen restated a “hold” rating on shares of Tandem Diabetes Care in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.25.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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