Jacobs Levy Equity Management Inc. Purchases 1,086,337 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jacobs Levy Equity Management Inc. increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 189.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,661,013 shares of the medical device company's stock after buying an additional 1,086,337 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 2.53% of Tandem Diabetes Care worth $59,830,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares in the last quarter. Assetmark Inc. increased its holdings in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after purchasing an additional 535 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock worth $65,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Tandem Diabetes Care by 5,955.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock worth $74,000 after purchasing an additional 2,025 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho assumed coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price objective for the company. Morgan Stanley lowered Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Canaccord Genuity Group upped their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays reduced their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Piper Sandler reduced their target price on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and an average price target of $39.81.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded up $0.38 during trading hours on Friday, reaching $23.08. The company had a trading volume of 1,111,848 shares, compared to its average volume of 1,503,568. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69. The business has a fifty day simple moving average of $19.13 and a 200 day simple moving average of $27.84. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $1.54 billion, a PE ratio of -11.96 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. During the same period in the previous year, the business earned ($0.65) earnings per share. Tandem Diabetes Care's revenue was up 22.3% on a year-over-year basis. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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.