Oppenheimer Asset Management Inc. Raises Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Oppenheimer Asset Management Inc. raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 20.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,092 shares of the medical device company’s stock after purchasing an additional 9,899 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $2,506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new stake in Tandem Diabetes Care during the third quarter worth $30,000. ORG Partners LLC acquired a new stake in Tandem Diabetes Care during the second quarter worth $31,000. Headlands Technologies LLC purchased a new stake in Tandem Diabetes Care in the first quarter valued at $35,000. Finally, Waldron Private Wealth LLC acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $50,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Canaccord Genuity Group reduced their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective on the stock. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Down 4.4 %

TNDM stock opened at $27.34 on Friday. The company’s 50 day moving average price is $37.46 and its 200 day moving average price is $41.64. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.17 and a beta of 1.36. Tandem Diabetes Care, Inc. has a fifty-two week low of $17.33 and a fifty-two week 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.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) EPS. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

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.