Louisiana State Employees Retirement System Trims Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Louisiana State Employees Retirement System trimmed its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,600 shares of the medical device company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Tandem Diabetes Care were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in 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 valued at $249,732,000 after purchasing an additional 30,664 shares during the last quarter. Jennison Associates LLC boosted 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 valued at $90,512,000 after acquiring an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after acquiring an additional 677,036 shares during the last quarter. Bellevue Group AG boosted 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 valued at $71,949,000 after acquiring an additional 39,571 shares during the last quarter. Finally, Chicago Capital LLC boosted its holdings in shares of Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after acquiring an additional 182,085 shares during the last quarter.

Tandem Diabetes Care Trading Up 1.7 %

TNDM stock opened at $31.91 on Friday. The firm has a fifty day moving average price of $40.14 and a 200 day moving average price of $41.77. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The firm has a market cap of $2.09 billion, a PE ratio of -15.01 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. During the same period last year, the firm posted ($0.30) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Barclays increased their price objective on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.13.

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.