First Trust Advisors LP Takes Position in Tandem Diabetes Care, Inc. $TNDM

First Trust Advisors LP purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 342,707 shares of the medical device company's stock, valued at approximately $6,570,000. First Trust Advisors LP owned 0.50% of Tandem Diabetes Care as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Tandem Diabetes Care by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company's stock worth $849,000 after purchasing an additional 523 shares in the last quarter. ProShare Advisors LLC lifted its stake in Tandem Diabetes Care by 4.6% in the 4th quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company's stock valued at $290,000 after buying an additional 579 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company's stock worth $30,000 after buying an additional 593 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Tandem Diabetes Care by 1.1% in the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company's stock worth $1,253,000 after buying an additional 617 shares during the last quarter. Finally, LPL Financial LLC increased its stake in Tandem Diabetes Care by 1.8% during the 4th quarter. LPL Financial LLC now owns 39,590 shares of the medical device company's stock worth $870,000 after buying an additional 716 shares in the last quarter.

Analysts Set New Price Targets

TNDM has been the subject of a number of research analyst reports. UBS Group initiated coverage on Tandem Diabetes Care in a report on Tuesday, July 28th. They set a "neutral" rating and a $18.00 target price for the company. Barclays set a $55.00 price target on Tandem Diabetes Care and gave the stock an "overweight" rating in a research report on Monday, May 11th. Zacks Research downgraded Tandem Diabetes Care from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They issued a "hold" rating and a $15.50 price objective on the stock. Finally, Bank of America lowered their target price on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Hold" and an average price target of $28.73.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $19.50 on Monday. The business's 50 day moving average price is $16.52 and its 200 day moving average price is $18.89. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -13.93 and a beta of 1.53. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same period last year, the company earned ($0.66) EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc NASDAQ: TNDM, headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company's flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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