Dark Forest Capital Management LP Makes New $325,000 Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Dark Forest Capital Management LP purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,055 shares of the medical device company’s stock, valued at approximately $325,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 valued at $172,000 after purchasing an additional 431 shares during the last quarter. MN Wealth Advisors LLC lifted its holdings in shares of Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after acquiring an additional 440 shares during the last quarter. MCF Advisors LLC grew its position in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC increased its stake in Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during 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 valued at $603,000 after purchasing an additional 592 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $42.45 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The firm has a market cap of $2.78 billion, a P/E ratio of -19.56 and a beta of 1.32. The business’s 50 day moving average price is $42.18 and its 200-day moving average price is $41.10.

Tandem Diabetes Care (NASDAQ:TNDM) last released 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. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $205.63 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on TNDM. Robert W. Baird increased their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 target price on the stock. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average price target 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.