Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 95.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,785 shares of the medical device company’s stock after acquiring an additional 13,088 shares during the quarter. Franklin Resources Inc.’s holdings in Tandem Diabetes Care were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares during the period. 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 valued at $603,000 after buying an additional 592 shares during the period. Brooklyn Investment Group purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth about $29,000. Finally, ORG Wealth Partners LLC acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth about $30,000.

Analyst Ratings Changes

TNDM has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays upped their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Citigroup dropped their price target on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.81.

Insider Buying and Selling at Tandem Diabetes Care

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

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $36.88 on Friday. 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 firm has a fifty day simple moving average of $32.38 and a 200-day simple moving average of $38.54. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -19.11 and a beta of 1.32. Tandem Diabetes Care, Inc. has a 1-year low of $21.85 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) EPS. On average, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 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.