Janney Montgomery Scott LLC Boosts Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Janney Montgomery Scott LLC lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,240 shares of the medical device company’s stock after buying an additional 4,412 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tandem Diabetes Care were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TNDM. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at about $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tandem Diabetes Care by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock worth $664,000 after purchasing an additional 704 shares during the period. Finally, Hanseatic Management Services Inc. raised its position in shares of Tandem Diabetes Care by 5.4% in the third quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock worth $591,000 after buying an additional 710 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Citigroup dropped their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Trading Up 1.9 %

Shares of TNDM stock opened at $36.69 on Thursday. The business has a 50-day moving average of $35.20 and a 200 day moving average of $37.27. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $22.03 and a 1-year high of $53.69. The stock has a market capitalization of $2.41 billion, a PE ratio of -19.01 and a beta of 1.32.

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

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.