Daiwa Securities Group Inc. Purchases Shares of 2,124 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Daiwa Securities Group Inc. acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,124 shares of the medical device company’s stock, valued at approximately $86,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after buying an additional 1,265,534 shares during the last quarter. Bellevue Group AG increased its holdings in shares of Tandem Diabetes Care by 2.0% during the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tandem Diabetes Care during the 4th quarter worth $36,288,000. Finally, Brown Capital Management LLC increased its holdings in shares of Tandem Diabetes Care by 29.9% during the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after buying an additional 219,940 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TNDM shares. Oppenheimer upped their price objective on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a report 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 Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Stifel Nicolaus increased their price target on Tandem Diabetes Care from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Robert W. Baird increased their price target on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.36.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $43.06 on Wednesday. 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 one year low of $13.82 and a one year high of $53.69. The company’s 50-day simple moving average is $42.34 and its 200-day simple moving average is $40.43. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -19.84 and a beta of 1.32.

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

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.