Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 118.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,649 shares of the medical device company's stock after buying an additional 26,943 shares during the period. M&T Bank Corp owned 0.08% of Tandem Diabetes Care worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Tandem Diabetes Care by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company's stock worth $175,000 after purchasing an additional 467 shares during the last quarter. Diversified Trust Co raised its stake in Tandem Diabetes Care by 5.6% during the fourth quarter. Diversified Trust Co now owns 10,573 shares of the medical device company's stock worth $313,000 after acquiring an additional 564 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Tandem Diabetes Care by 1.9% in the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company's stock valued at $836,000 after purchasing an additional 737 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Tandem Diabetes Care by 10.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company's stock valued at $205,000 after purchasing an additional 908 shares during the last quarter. Finally, RiverPark Advisors LLC bought a new position in Tandem Diabetes Care in the 4th quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TNDM shares. Stifel Nicolaus increased their price target on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, April 23rd. Robert W. Baird upped their price objective on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Citigroup boosted their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $50.00 price target (up previously from $35.00) on shares of Tandem Diabetes Care in a research note on Friday, May 3rd. Finally, Leerink Partnrs upgraded Tandem Diabetes Care from a "market perform" rating to an "outperform" rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.80.

Tandem Diabetes Care Stock Up 0.7 %

Shares of NASDAQ TNDM traded up $0.31 during trading on Friday, hitting $44.36. 1,908,104 shares of the company traded hands, compared to its average volume of 1,652,643. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $47.00. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -20.44 and a beta of 1.10. The business's fifty day moving average is $33.91 and its 200 day moving average is $26.99. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.7 earnings per share for the current fiscal year.

Tandem Diabetes Care 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.