Envestnet Asset Management Inc. Buys 64,467 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Envestnet Asset Management Inc. grew its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 318,530 shares of the medical device company's stock after purchasing an additional 64,467 shares during the period. Envestnet Asset Management Inc. owned about 0.48% of Tandem Diabetes Care worth $6,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HighTower Advisors LLC bought a new stake in Tandem Diabetes Care during the fourth quarter worth $343,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock worth $236,000 after acquiring an additional 1,184 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Tandem Diabetes Care by 14.0% in the fourth quarter. Corient Private Wealth LLC now owns 7,844 shares of the medical device company's stock valued at $283,000 after buying an additional 962 shares during the period. Cibc World Markets Corp bought a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $221,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $993,000.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded up $0.45 during mid-day trading on Friday, hitting $15.89. 1,323,908 shares of the stock were exchanged, compared to its average volume of 1,766,814. Tandem Diabetes Care, Inc. has a 12 month low of $14.31 and a 12 month high of $47.60. The company has a 50-day simple moving average of $18.86 and a 200 day simple moving average of $23.02. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The company has a market capitalization of $1.06 billion, a P/E ratio of -5.72 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Mizuho assumed coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 target price for the company. Robert W. Baird decreased their price objective on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Stifel Nicolaus decreased their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Canaccord Genuity Group increased their price target on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $32.71.

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.