Teacher Retirement System of Texas Has $622,000 Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Teacher Retirement System of Texas lifted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.8% in the first quarter, HoldingsChannel.com reports. The firm owned 32,465 shares of the medical device company’s stock after purchasing an additional 4,895 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tandem Diabetes Care were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TNDM. Hood River Capital Management LLC bought a new stake in Tandem Diabetes Care during the 4th quarter worth about $46,035,000. Jacobs Levy Equity Management Inc. raised its position in shares of Tandem Diabetes Care by 189.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $32,889,000. Park West Asset Management LLC raised its position in shares of Tandem Diabetes Care by 49.5% in the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock valued at $57,632,000 after buying an additional 530,000 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Tandem Diabetes Care by 14.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after purchasing an additional 337,026 shares in the last quarter.

Tandem Diabetes Care Trading Down 3.5%

NASDAQ TNDM opened at $15.20 on Wednesday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. Tandem Diabetes Care, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $48.24. The stock has a market cap of $1.01 billion, a P/E ratio of -5.47 and a beta of 1.48. The stock has a 50 day simple moving average of $20.06 and a two-hundred day simple moving average of $24.10.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to analysts’ expectations of $220.19 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.65) earnings per share. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

TNDM has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Piper Sandler reduced their price objective on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target on the stock. Truist Financial began coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They set a “hold” rating and a $24.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.71.

Tandem Diabetes Care Company 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.