Nicholas Investment Partners LP Purchases New Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Nicholas Investment Partners LP bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 98,063 shares of the medical device company’s stock, valued at approximately $3,951,000.

Other large investors have also recently modified their holdings of the company. ORG Partners LLC purchased a new stake in Tandem Diabetes Care in the second quarter worth about $31,000. Headlands Technologies LLC purchased a new position in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $35,000. MCF Advisors LLC boosted its position in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Tandem Diabetes Care in the second quarter worth $86,000. Finally, Signaturefd LLC raised its holdings in Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after purchasing an additional 522 shares in the last quarter.

Tandem Diabetes Care Stock Up 4.2 %

NASDAQ:TNDM opened at $42.73 on Thursday. The firm has a market cap of $2.76 billion, a P/E ratio of -19.69 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The firm has a 50-day simple moving average of $42.12 and a two-hundred day simple moving average of $39.87.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. The firm had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.30) EPS. Analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TNDM has been the topic of a number of recent research reports. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target for the company. Lake Street Capital increased their price target on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Company increased their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.36.

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.