Allspring Global Investments Holdings LLC Has $235,000 Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Allspring Global Investments Holdings LLC grew its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1,567.1% during the first quarter, HoldingsChannel.com reports. The firm owned 6,635 shares of the medical device company’s stock after buying an additional 6,237 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tandem Diabetes Care were worth $235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $27,000. MCF Advisors LLC increased its stake in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after buying an additional 445 shares during the last quarter. Signaturefd LLC lifted its position in Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after buying an additional 1,517 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after buying an additional 1,085 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $73,000.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $44.31 on Thursday. Tandem Diabetes Care, Inc. has a 52 week low of $13.82 and a 52 week high of $53.69. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. The firm’s 50-day simple moving average is $45.43 and its 200 day simple moving average is $34.63. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -20.42 and a beta of 1.28.

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

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts recently issued reports on TNDM shares. Piper Sandler reiterated an “overweight” rating and set a $50.00 target price (up previously from $35.00) on shares of Tandem Diabetes Care in a report on Friday, May 3rd. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $57.00 in a research note on Wednesday, May 22nd. Oppenheimer raised their target price on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $45.00 in a research 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 research report on Monday, May 6th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.25.

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.