Truist Financial Corp Takes Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Truist Financial Corp acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 87,484 shares of the medical device company's stock, valued at approximately $2,588,000. Truist Financial Corp owned about 0.13% of Tandem Diabetes Care at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RiverPark Advisors LLC acquired a new stake in Tandem Diabetes Care during the 4th quarter worth about $27,000. Signaturefd LLC increased its holdings in 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 purchasing an additional 1,517 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 valued at $67,000 after buying an additional 1,099 shares during the period. GAMMA Investing LLC acquired a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $73,000. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth approximately $104,000.

Tandem Diabetes Care Stock Up 4.5 %

Tandem Diabetes Care stock traded up $1.90 during trading on Thursday, hitting $44.05. 1,285,542 shares of the company were exchanged, compared to its average volume of 1,762,029. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43. The business's 50 day moving average is $33.57 and its 200 day moving average is $26.76. Tandem Diabetes Care, Inc. has a 52 week low of $13.82 and a 52 week high of $47.00. The company has a market capitalization of $2.85 billion, a P/E ratio of -20.30 and a beta of 1.10.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. Analysts predict that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current year.

Analysts Set New Price Targets

TNDM has been the topic of a number of research reports. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $21.00 to $45.00 in a research report on Monday, April 29th. StockNews.com raised shares of Tandem Diabetes Care from a "sell" rating to a "hold" rating in a research report on Friday, April 19th. Piper Sandler reaffirmed an "overweight" rating and issued a $50.00 target price (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Citigroup upped their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 3rd. Finally, Barclays raised their price objective on Tandem Diabetes Care from $39.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.80.

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.