MN Wealth Advisors LLC Buys 2,125 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

MN Wealth Advisors LLC boosted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,848 shares of the medical device company’s stock after purchasing an additional 2,125 shares during the quarter. MN Wealth Advisors LLC’s holdings in Tandem Diabetes Care were worth $715,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of Tandem Diabetes Care by 1,481.5% in the first quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after acquiring an additional 136,592 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tandem Diabetes Care in the first quarter valued at about $540,000. Vanguard Group Inc. raised its stake in Tandem Diabetes Care by 0.4% in the first 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 in the last quarter. SG Americas Securities LLC acquired a new position in Tandem Diabetes Care in the first quarter valued at about $5,227,000. Finally, Quantbot Technologies LP acquired a new position in Tandem Diabetes Care in the first quarter valued at about $710,000.

Analysts Set New Price Targets

A number of research analysts recently commented on TNDM shares. UBS Group raised Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. 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 note on Friday, August 2nd. Barclays upped their price objective on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $55.13.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $37.61 on Wednesday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -17.33 and a beta of 1.33. Tandem Diabetes Care, Inc. has a 52-week low of $13.82 and a 52-week high of $53.69. The stock’s 50 day moving average price is $42.05 and its two-hundred day moving average price is $41.92. 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 (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The firm had revenue of $221.90 million for the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) EPS. On average, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

Tandem Diabetes Care Company 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.