Voya Investment Management LLC Increases Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Voya Investment Management LLC grew its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 231.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,179 shares of the medical device company's stock after acquiring an additional 68,599 shares during the quarter. Voya Investment Management LLC owned about 0.15% of Tandem Diabetes Care worth $3,536,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care during the third quarter worth about $52,000. Franklin Resources Inc. increased its holdings in shares of Tandem Diabetes Care by 95.6% during the 3rd quarter. Franklin Resources Inc. now owns 26,785 shares of the medical device company's stock worth $1,136,000 after buying an additional 13,088 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock valued at $8,379,000 after buying an additional 113,355 shares during the period. Park Avenue Securities LLC lifted its holdings in Tandem Diabetes Care by 34.5% in the fourth quarter. Park Avenue Securities LLC now owns 8,914 shares of the medical device company's stock valued at $321,000 after acquiring an additional 2,286 shares during the last quarter. Finally, LVW Advisors LLC lifted its holdings in Tandem Diabetes Care by 13.8% in the fourth quarter. LVW Advisors LLC now owns 7,798 shares of the medical device company's stock valued at $281,000 after acquiring an additional 944 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Robert W. Baird lowered their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Piper Sandler cut their price objective on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group decreased their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Canaccord Genuity Group boosted their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care has a consensus rating of "Moderate Buy" and a consensus price target of $39.81.

Insider Buying and Selling 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 on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

Tandem Diabetes Care Stock Up 0.9 %

TNDM stock traded up $0.19 during midday trading on Wednesday, reaching $21.51. 182,943 shares of the company were exchanged, compared to its average volume of 1,496,378. The stock's 50-day simple moving average is $18.55 and its 200 day simple moving average is $28.38. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -11.15 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. During the same period in the previous year, the business posted ($0.65) EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current 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.