SG Americas Securities LLC Acquires 35,291 Shares of Tandem Diabetes Care, Inc. $TNDM

SG Americas Securities LLC lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 127.1% during the third quarter, HoldingsChannel reports. The firm owned 63,051 shares of the medical device company’s stock after acquiring an additional 35,291 shares during the quarter. SG Americas Securities LLC’s holdings in Tandem Diabetes Care were worth $765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TNDM. Acadian Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 54.0% in the 2nd quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock valued at $6,676,000 after purchasing an additional 125,644 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Tandem Diabetes Care by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 39,660 shares of the medical device company’s stock worth $739,000 after buying an additional 3,269 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at approximately $585,000. Champlain Investment Partners LLC lifted its stake in Tandem Diabetes Care by 6.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock valued at $27,123,000 after acquiring an additional 86,235 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in Tandem Diabetes Care by 122.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock worth $488,000 after acquiring an additional 14,377 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Truist Financial set a $24.00 target price on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research report on Thursday, December 18th. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Finally, Baird R W upgraded Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and an average price target of $24.00.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $20.49 on Wednesday. The company has a fifty day moving average price of $21.13 and a two-hundred day moving average price of $16.39. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $37.93. The stock has a market cap of $1.39 billion, a P/E ratio of -6.72 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. During the same period in the prior year, the firm earned ($0.35) EPS. Tandem Diabetes Care’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.