10,052 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,052 shares of the medical device company’s stock, valued at approximately $405,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Tandem Diabetes Care by 11.2% during the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after buying an additional 431 shares in the last quarter. MN Wealth Advisors LLC boosted its holdings in Tandem Diabetes Care by 3.1% during the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after buying an additional 440 shares in the last quarter. MCF Advisors LLC boosted its holdings 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 buying an additional 445 shares in the last quarter. Signaturefd LLC boosted its holdings in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after buying an additional 522 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares during the period.

Analyst Ratings Changes

TNDM has been the subject of a number of research analyst reports. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Oppenheimer upped their price objective on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Morgan Stanley initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 price objective for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $54.36.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $44.63 on Monday. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $53.69. The stock has a market cap of $2.88 billion, a P/E ratio of -20.57 and a beta of 1.32. The company has a 50-day moving average price of $42.26 and a 200 day moving average price of $40.75. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

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

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.