Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,290,590 shares of the medical device company's stock after purchasing an additional 167,675 shares during the quarter. Jennison Associates LLC owned 1.98% of Tandem Diabetes Care worth $38,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in Tandem Diabetes Care during the 4th quarter valued at about $27,000. Signaturefd LLC grew its stake in shares of Tandem Diabetes Care by 871.8% in the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company's stock worth $50,000 after acquiring an additional 1,517 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Tandem Diabetes Care by 51.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company's stock worth $67,000 after acquiring an additional 1,099 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Tandem Diabetes Care in the fourth quarter worth approximately $104,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Tandem Diabetes Care in the third quarter worth approximately $112,000.

Tandem Diabetes Care Price Performance

Shares of TNDM traded up $0.44 during midday trading on Thursday, hitting $35.56. 1,568,049 shares of the company traded hands, compared to its average volume of 1,733,326. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -10.34 and a beta of 1.12. The firm has a 50 day moving average of $30.74 and a 200-day moving average of $25.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. Tandem Diabetes Care, Inc. has a 52 week low of $13.82 and a 52 week high of $40.74.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TNDM. SVB Leerink upgraded shares of Tandem Diabetes Care from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $34.00 to $45.00 in a research note on Thursday. StockNews.com upgraded shares of Tandem Diabetes Care from a "sell" rating to a "hold" rating in a research report on Friday, April 19th. Citigroup increased their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $39.45.

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.