1492 Capital Management LLC Invests $430,000 in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

1492 Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 22,446 shares of the medical device company's stock, valued at approximately $430,000.

Several other hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in Tandem Diabetes Care during the 1st quarter valued at about $37,000. State of Wyoming increased its holdings in Tandem Diabetes Care by 95.9% in the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after acquiring an additional 1,467 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Tandem Diabetes Care by 102.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company's stock valued at $141,000 after acquiring an additional 1,977 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $205,000. Finally, Cibc World Markets Corp purchased a new position in Tandem Diabetes Care during the fourth quarter worth approximately $221,000.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded up $0.45 during midday trading on Friday, hitting $15.89. The company's stock had a trading volume of 1,323,908 shares, compared to its average volume of 1,766,814. The company has a 50-day moving average price of $18.86 and a two-hundred day moving average price of $23.02. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -5.72 and a beta of 1.48. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. Tandem Diabetes Care, Inc. has a 1-year low of $14.31 and a 1-year high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The business had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter last year, the company posted ($0.65) earnings per share. The company's revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TNDM shares. Citigroup reaffirmed a "sell" rating and issued a $14.00 price objective (down from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Mizuho began coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 price target on the stock. Wells Fargo & Company cut their target price on Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group raised their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.71.

Tandem Diabetes Care Company 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.