Daiwa Securities Group Inc. Purchases New Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Daiwa Securities Group Inc. purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,124 shares of the medical device company’s stock, valued at approximately $86,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. acquired a new position in Tandem Diabetes Care in the 2nd quarter valued at about $238,000. Quest Partners LLC boosted its holdings in Tandem Diabetes Care by 795.4% in the 2nd quarter. Quest Partners LLC now owns 5,892 shares of the medical device company’s stock valued at $237,000 after purchasing an additional 5,234 shares in the last quarter. Chicago Capital LLC boosted its holdings in Tandem Diabetes Care by 22.3% in the 2nd quarter. Chicago Capital LLC now owns 821,062 shares of the medical device company’s stock valued at $33,081,000 after purchasing an additional 149,757 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Tandem Diabetes Care by 15.7% in the 2nd quarter. Rhumbline Advisers now owns 186,779 shares of the medical device company’s stock valued at $7,525,000 after purchasing an additional 25,382 shares in the last quarter.

Tandem Diabetes Care Price Performance

TNDM stock opened at $43.06 on Wednesday. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The stock’s 50 day moving average price is $42.34 and its 200 day moving average price is $40.43. The firm has a market cap of $2.78 billion, a P/E ratio of -19.84 and a beta of 1.32.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TNDM. Morgan Stanley began coverage on Tandem Diabetes Care in a report on Thursday, August 22nd. They issued an “equal weight” rating and a $45.00 price objective on the stock. Citigroup raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $57.00 in a report on Wednesday, May 22nd. Stifel Nicolaus lifted their price objective on Tandem Diabetes Care from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Oppenheimer boosted their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Finally, Barclays boosted their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.36.

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.