Tandem Diabetes Care, Inc. $TNDM Stock: Inspire Investing LLC Raises Stake

Key Points

• Inspire Investing increased its Tandem Diabetes Care stake by 315.2% in the third quarter, reaching 183,095 shares valued at approximately $2.99 million. Several other institutional investors also added or initiated positions.
• Tandem reported quarterly revenue of $254.56 million, up 5.8% year over year, and an adjusted loss of $0.31 per share—slightly better than analysts’ expectations. The company remains unprofitable, with a negative net margin of 6.08%.
• TNDM shares recently traded at $17.43, while analysts hold a consensus “Hold” rating and an average price target of $27.08; ratings range from “Strong Buy” to “Sell.”

Inspire Investing LLC lifted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 315.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 183,095 shares of the medical device company's stock after buying an additional 138,998 shares during the quarter. Inspire Investing LLC owned approximately 0.26% of Tandem Diabetes Care worth $2,986,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. First Light Asset Management LLC increased its holdings in shares of Tandem Diabetes Care by 157.4% during the second quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company's stock valued at $51,058,000 after purchasing an additional 2,068,838 shares during the period. Engineers Gate Manager LP acquired a new stake in Tandem Diabetes Care in the second quarter worth approximately $976,000. Integrated Wealth Concepts LLC acquired a new position in shares of Tandem Diabetes Care during the 2nd quarter valued at $33,000. Squarepoint Ops LLC acquired a new position in Tandem Diabetes Care during the second quarter worth about $3,280,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at about $395,000.

Tandem Diabetes Care Stock Up 1.6%

Shares of NASDAQ:TNDM opened at $17.43 on Friday. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. The firm has a market cap of $1.21 billion, a P/E ratio of -18.74 and a beta of 1.66. Tandem Diabetes Care, Inc. has a 12 month low of $12.26 and a 12 month high of $29.65. The company's 50-day moving average price is $18.33 and its two-hundred day moving average price is $17.84.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.01. The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. Tandem Diabetes Care's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.78) EPS. As a group, research analysts forecast that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. William Blair initiated coverage on Tandem Diabetes Care in a research note on Friday, August 21st. They set an "outperform" rating for the company. Citigroup reduced their price target on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. Mizuho set a $18.00 target price on Tandem Diabetes Care in a report on Tuesday, October 13th. Oppenheimer reiterated an "outperform" rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tandem Diabetes Care in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.08.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company's products are designed to help automate and simplify insulin therapy while supporting integration with continuous glucose monitoring (CGM) technology.

Tandem's product portfolio includes the t:slim X2 Insulin Pump and the compact Tandem Mobi system, along with insulin cartridges, infusion sets, accessories and diabetes management software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.