7,327 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Bought by AQR Capital Management LLC

AQR Capital Management LLC acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,327 shares of the medical device company’s stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNDM. Vanguard Group Inc. boosted its position in Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after purchasing an additional 30,664 shares in the last quarter. Jennison Associates LLC boosted its position 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 purchasing an additional 1,265,534 shares in the last quarter. Fred Alger Management LLC boosted its position in Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Bellevue Group AG boosted its position in Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after purchasing an additional 39,571 shares in the last quarter. Finally, Brown Capital Management LLC boosted its position 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on TNDM shares. Piper Sandler reiterated an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Robert W. Baird upped their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.13.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $37.50 on Thursday. The firm has a market capitalization of $2.45 billion, a P/E ratio of -17.94 and a beta of 1.33. The stock has a fifty day moving average price of $42.06 and a 200 day moving average price of $41.89. Tandem Diabetes Care, Inc. has a 52 week low of $13.82 and a 52 week high of $53.69. 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 (NASDAQ:TNDM) last released its earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) earnings per share. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

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.