Sector Gamma AS Has $3.27 Million Holdings in Tandem Diabetes Care, Inc. $TNDM

Sector Gamma AS increased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 28.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,542 shares of the medical device company’s stock after purchasing an additional 59,019 shares during the period. Sector Gamma AS owned approximately 0.40% of Tandem Diabetes Care worth $3,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TNDM. Acadian Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 54.0% during the 2nd quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock worth $6,676,000 after acquiring an additional 125,644 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Tandem Diabetes Care by 9.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 39,660 shares of the medical device company’s stock valued at $739,000 after acquiring 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 worth approximately $585,000. Champlain Investment Partners LLC raised its position in shares of Tandem Diabetes Care by 6.3% in the second quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock valued at $27,123,000 after purchasing an additional 86,235 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Tandem Diabetes Care by 122.2% in 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 period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Mizuho lifted their price target on Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Truist Financial set a $24.00 price objective on Tandem Diabetes Care and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $19.90 on Friday. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $37.93. The firm has a market capitalization of $1.35 billion, a PE ratio of -6.52 and a beta of 1.68. The business’s 50 day moving average is $21.27 and its 200-day moving average is $16.48. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33.

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

About Tandem Diabetes Care

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.