JPMorgan Chase & Co. Acquires 113,355 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

JPMorgan Chase & Co. boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 134.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,583 shares of the medical device company’s stock after acquiring an additional 113,355 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of Tandem Diabetes Care worth $8,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bellevue Group AG lifted its stake in Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares during the period. MetLife Investment Management LLC lifted its stake in Tandem Diabetes Care by 129.1% during the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after purchasing an additional 21,086 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Tandem Diabetes Care by 368.5% during the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock worth $1,108,000 after purchasing an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after purchasing an additional 66,687 shares during the period. Finally, LMR Partners LLP lifted its stake in Tandem Diabetes Care by 235.5% during the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock worth $1,434,000 after purchasing an additional 23,743 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have commented on TNDM shares. Barclays raised their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Citigroup dropped their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Finally, Robert W. Baird dropped their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.81.

Insider Buying and Selling at Tandem Diabetes Care

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

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $36.21 on Tuesday. Tandem Diabetes Care, Inc. has a 52-week low of $21.85 and a 52-week high of $53.69. The stock has a market cap of $2.38 billion, a PE ratio of -18.76 and a beta of 1.29. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm’s 50 day moving average price is $33.30 and its two-hundred day moving average price is $38.03.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same period last year, the firm earned ($0.38) earnings per share. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.