Oppenheimer Asset Management Inc. Has $1.98 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Oppenheimer Asset Management Inc. lifted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 21.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,193 shares of the medical device company’s stock after purchasing an additional 8,813 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TNDM. Jennison Associates LLC boosted its stake in Tandem Diabetes Care by 98.1% during the first 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 in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at about $36,288,000. Victory Capital Management Inc. increased its stake in Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after acquiring an additional 389,632 shares during the period. Kingdon Capital Management L.L.C. raised its position in Tandem Diabetes Care by 153.9% in the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after purchasing an additional 298,880 shares in the last quarter. Finally, Brown Capital Management LLC lifted its stake in Tandem Diabetes Care by 29.9% during the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after purchasing an additional 219,940 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TNDM. Lake Street Capital upped their price objective on Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Redburn Atlantic began coverage on shares of Tandem Diabetes Care in a research note on Thursday, May 30th. They issued a “buy” rating and a $60.00 target price on the stock. Barclays increased their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Oppenheimer boosted their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and a consensus price target of $54.36.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $43.06 on Wednesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -19.84 and a beta of 1.32. The business has a 50-day moving average of $42.34 and a 200-day moving average of $40.43. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) EPS. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current 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.