Bayforest Capital Ltd Increases Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Key Points

• Bayforest Capital Ltd increased its holdings in Tandem Diabetes Care by 197.0%, owning 26,288 shares valued at $504,000 as of the latest reporting period.
• Tandem Diabetes Care reported a loss of $0.67 per share for the quarter, missing analyst estimates, despite generating revenues of $234.42 million, which exceeded expectations.
• Analysts have varying opinions on the stock, with ratings ranging from a "sell" to a "buy," and an average target price of $32.71.

Bayforest Capital Ltd increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 197.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,288 shares of the medical device company's stock after buying an additional 17,436 shares during the period. Bayforest Capital Ltd's holdings in Tandem Diabetes Care were worth $504,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after acquiring an additional 525 shares during the period. NBC Securities Inc. acquired a new position in Tandem Diabetes Care during the first quarter worth $37,000. State of Wyoming raised 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 raised 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 acquired a new position in Tandem Diabetes Care during the first quarter worth $205,000.

Tandem Diabetes Care Trading Down 1.2%

Tandem Diabetes Care stock traded down $0.18 during midday trading on Friday, hitting $15.40. 1,385,256 shares of the stock were exchanged, compared to its average volume of 1,648,595. Tandem Diabetes Care, Inc. has a fifty-two week low of $14.31 and a fifty-two week high of $47.60. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.54 and a beta of 1.47. The stock's 50-day simple moving average is $18.30 and its 200 day simple moving average is $22.32. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The firm had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the previous year, the business posted ($0.65) earnings per share. Tandem Diabetes Care's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TNDM. Citigroup restated a "sell" rating and set a $14.00 price objective (down from $24.00) on shares of Tandem Diabetes Care in a research report on Wednesday, July 9th. Stifel Nicolaus reduced their target price on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Truist Financial initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They issued a "hold" rating and a $24.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Canaccord Genuity Group increased their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has an average rating of "Hold" and a consensus target price of $32.71.

Tandem Diabetes Care Company Profile

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.