ClariVest Asset Management LLC Takes Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

ClariVest Asset Management LLC acquired a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,149 shares of the medical device company’s stock, valued at approximately $1,134,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Tandem Diabetes Care by 11.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after buying an additional 431 shares during the period. MN Wealth Advisors LLC grew its holdings in Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after acquiring an additional 440 shares during the period. MCF Advisors LLC raised its position in shares of Tandem Diabetes Care by 79.3% during the 1st 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 during the last quarter. Signaturefd LLC lifted its stake in shares of Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tandem Diabetes Care by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock valued at $603,000 after purchasing an additional 592 shares during the period.

Tandem Diabetes Care Stock Performance

TNDM opened at $42.73 on Thursday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -19.69 and a beta of 1.32. The business’s 50-day moving average price is $42.12 and its two-hundred day moving average price is $39.87. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its 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. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same quarter last year, the firm earned ($0.30) EPS. Tandem Diabetes Care’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TNDM shares. Redburn Atlantic initiated coverage on Tandem Diabetes Care in a report on Thursday, May 30th. They issued a “buy” rating and a $60.00 price objective for the company. Canaccord Genuity Group started coverage on 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. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Barclays upped their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $57.00 in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.36.

Tandem Diabetes Care 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.