Jennison Associates LLC Purchases 601,260 Shares of Tandem Diabetes Care, Inc. $TNDM

Key Points

• Jennison Associates LLC increased its stake in Tandem Diabetes Care by 42.3% in Q4, buying 601,260 shares to hold 2,021,376 shares (about a 2.98% stake) valued at roughly $44.43 million.
• Tandem beat Q4 expectations with EPS of -$0.01 (vs. -$0.05 consensus) and revenue of $290.38M (up 15.1% YoY), but remains unprofitable with a negative net margin (~20.17%) and negative return on equity (~68.23%).
• Analysts are mixed-to-positive, with a MarketBeat consensus of a "Moderate Buy" and a $30.05 average price target, while individual firms have both raised targets and issued upgrades (e.g., Lake Street's buy rating with a $50 target).

Jennison Associates LLC grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,021,376 shares of the medical device company's stock after acquiring an additional 601,260 shares during the period. Jennison Associates LLC owned about 2.98% of Tandem Diabetes Care worth $44,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company's stock valued at $161,363,000 after acquiring an additional 278,042 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company's stock valued at $44,811,000 after acquiring an additional 991,649 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Tandem Diabetes Care during the third quarter valued at about $22,706,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Tandem Diabetes Care by 3.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,481,953 shares of the medical device company's stock valued at $17,991,000 after acquiring an additional 50,646 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care during the fourth quarter valued at about $26,988,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $19.48 on Friday. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company has a 50 day simple moving average of $21.80 and a two-hundred day simple moving average of $20.17. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.35 and a beta of 1.64. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The business had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Tandem Diabetes Care, Inc. will post -0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

TNDM has been the subject of a number of research reports. Sanford C. Bernstein reissued a "market perform" rating and issued a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. UBS Group reissued a "neutral" rating and issued a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. The Goldman Sachs Group decreased their price target on shares of Tandem Diabetes Care from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Lake Street Capital raised shares of Tandem Diabetes Care from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research note on Monday, February 23rd. Finally, Morgan Stanley increased their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.05.

Tandem Diabetes Care 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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