Quantinno Capital Management LP Has $12.54 Million Position in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Quantinno Capital Management increased its Tandem Diabetes Care stake by 123.5% in the first quarter, owning 653,870 shares worth approximately $12.54 million, or 0.95% of the company.
• Analyst sentiment remains mixed: Tandem has a consensus “Hold” rating and an average price target of $28.73, with targets ranging from $21 to $28 and recent upgrades and downgrades.
• Tandem reported better-than-expected quarterly results, with an adjusted loss of $0.30 per share versus estimates of $0.46 and revenue of $247.22 million, up 5.5% year over year; however, the company remains unprofitable.

Quantinno Capital Management LP grew its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 123.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 653,870 shares of the medical device company's stock after buying an additional 361,361 shares during the quarter. Quantinno Capital Management LP owned approximately 0.95% of Tandem Diabetes Care worth $12,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TNDM. First Light Asset Management LLC lifted its position in Tandem Diabetes Care by 20.7% during the 1st quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company's stock worth $25,203,000 after buying an additional 225,222 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Tandem Diabetes Care by 16.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 72,878 shares of the medical device company's stock valued at $1,397,000 after acquiring an additional 10,463 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Tandem Diabetes Care in the first quarter worth about $1,116,000. Gabelli Funds LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $479,000. Finally, Beaconlight Capital LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $4,867,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen reissued a "buy" rating and issued a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Benchmark started coverage on Tandem Diabetes Care in a report on Monday, May 11th. They set a "hold" rating on the stock. The Goldman Sachs Group set a $21.00 price objective on Tandem Diabetes Care in a research report on Wednesday, May 27th. Bank of America lowered their target price on Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, May 18th. Finally, Weiss Ratings downgraded Tandem Diabetes Care from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. 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, Tandem Diabetes Care has a consensus rating of "Hold" and an average price target of $28.73.

Tandem Diabetes Care Trading Up 3.1%

Shares of NASDAQ TNDM opened at $20.11 on Tuesday. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $29.65. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -14.36 and a beta of 1.53. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The company's fifty day moving average is $16.62 and its 200-day moving average is $18.89.

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

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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