Jupiter Asset Management Ltd. Invests $1.68 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Key Points

• Jupiter Asset Management Ltd. invested approximately $1.68 million in Tandem Diabetes Care, Inc., acquiring 87,815 shares in the first quarter of the year.
• Multiple institutional investors made changes to their holdings in Tandem Diabetes Care, with significant increases in stakes from firms like Assetmark Inc. (+42.9%) and State of Wyoming (+95.9%).
• Analysts have lowered target prices for Tandem Diabetes Care, with Stifel Nicolaus reducing its target from $60.00 to $31.00, while Citigroup set a new target of $14.00, reflecting a consensus average rating of "Hold."

Jupiter Asset Management Ltd. acquired a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 87,815 shares of the medical device company's stock, valued at approximately $1,683,000. Jupiter Asset Management Ltd. owned about 0.13% of Tandem Diabetes Care at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TNDM. Assetmark Inc. lifted its stake in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after buying an additional 525 shares during the last quarter. NBC Securities Inc. bought a new position in Tandem Diabetes Care during the first quarter worth $37,000. State of Wyoming increased its position in Tandem Diabetes Care by 95.9% during the fourth 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 during the period. Tower Research Capital LLC TRC increased its position in Tandem Diabetes Care by 102.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company's stock worth $141,000 after acquiring an additional 1,977 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in Tandem Diabetes Care during the first quarter worth $205,000.

Tandem Diabetes Care Price Performance

Shares of TNDM traded down $0.27 during trading hours on Tuesday, hitting $15.15. The stock had a trading volume of 1,515,398 shares, compared to its average volume of 1,704,962. The company's fifty day moving average is $18.06 and its two-hundred day moving average is $21.93. 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 52 week low of $14.31 and a 52 week high of $47.60. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.45 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TNDM shares. Stifel Nicolaus dropped their target price on shares of 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. Piper Sandler dropped their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Citigroup reaffirmed a "sell" rating and set a $14.00 target price (down previously from $24.00) on shares of Tandem Diabetes Care in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their target price on shares of 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. Finally, Wall Street Zen lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of "Hold" and an average target price of $32.71.

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.