Healthcare of Ontario Pension Plan Trust Fund Acquires New Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,239 shares of the medical device company’s stock, valued at approximately $540,000.

Several other institutional investors also recently bought and sold shares of TNDM. Headlands Technologies LLC acquired a new stake in Tandem Diabetes Care in the first quarter valued at approximately $35,000. MCF Advisors LLC boosted its stake in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC boosted its stake 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 valued at $50,000 after acquiring an additional 1,517 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Tandem Diabetes Care by 141.6% in the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 1,085 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Tandem Diabetes Care in the fourth quarter valued at approximately $73,000.

Tandem Diabetes Care Stock Performance

TNDM opened at $40.65 on Friday. The firm has a market capitalization of $2.63 billion, a PE ratio of -18.73 and a beta of 1.28. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $53.69. The firm’s 50-day moving average price is $45.56 and its 200 day moving average price is $35.75. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.17. The company had revenue of $191.67 million for the quarter, compared to analyst estimates of $173.06 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. As a group, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TNDM has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $50.00 target price (up from $35.00) on shares of Tandem Diabetes Care in a research note on Friday, May 3rd. Oppenheimer lifted their price objective on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Leerink Partnrs upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. Finally, Barclays lifted their price objective on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares in the company, valued at approximately $1,260,785.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.