Raymond James & Associates Purchases 7,747 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James & Associates lifted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 104,418 shares of the medical device company’s stock after purchasing an additional 7,747 shares during the quarter. Raymond James & Associates owned 0.16% of Tandem Diabetes Care worth $4,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares in the last quarter. Jennison Associates LLC lifted its position in Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after buying an additional 1,265,534 shares in the last quarter. Fred Alger Management LLC lifted its position in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares in the last quarter. Bellevue Group AG lifted its position in Tandem Diabetes Care by 2.0% during the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares in the last quarter. Finally, Brown Capital Management LLC lifted its position in Tandem Diabetes Care by 29.9% during the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after buying an additional 219,940 shares in the last quarter.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $31.91 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of -15.27 and a beta of 1.36. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $39.89 and its two-hundred day moving average price is $41.77. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TNDM. Canaccord Genuity Group began 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 target on the stock. Robert W. Baird upped their target price on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Barclays boosted their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and an average price target of $55.13.

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.