165,380 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. has acquired a new stake in Tandem Diabetes Care, purchasing 165,380 shares worth approximately $3.17 million, representing about 0.25% ownership.
• Several hedge funds have also increased their positions in Tandem Diabetes Care, with GAMMA Investing LLC notably raising its stake by 763.3%.
• Wall Street analysts have mixed opinions on Tandem Diabetes Care, with target prices ranging from $14.00 to $59.00 and a consensus rating of "Hold".

iA Global Asset Management Inc. acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 165,380 shares of the medical device company's stock, valued at approximately $3,169,000. iA Global Asset Management Inc. owned approximately 0.25% of Tandem Diabetes Care at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Tandem Diabetes Care by 32.2% during the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock valued at $1,456,000 after purchasing an additional 18,529 shares during the period. Envestnet Asset Management Inc. increased its holdings in Tandem Diabetes Care by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after buying an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Tandem Diabetes Care by 17.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after buying an additional 11,048 shares during the period. Janney Montgomery Scott LLC raised its stake in Tandem Diabetes Care by 27.1% in the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after buying an additional 8,210 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Tandem Diabetes Care by 763.3% during the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after buying an additional 37,303 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TNDM. Mizuho initiated coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price target on the stock. Stifel Nicolaus dropped their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial assumed coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They issued a "hold" rating and a $24.00 target price for the company. UBS Group lowered their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada cut their price objective on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Tandem Diabetes Care has an average rating of "Hold" and an average target price of $25.80.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded down $2.87 during mid-day trading on Thursday, reaching $11.52. 11,842,363 shares of the company traded hands, compared to its average volume of 1,756,762. The firm's fifty day moving average is $17.73 and its two-hundred day moving average is $21.72. The company has a market capitalization of $767.35 million, a price-to-earnings ratio of -3.73 and a beta of 1.46. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $47.60. 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 (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). The company had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 59.02%. Tandem Diabetes Care's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. On average, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal 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.