Mizuho Markets Americas LLC Purchases New Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Mizuho Markets Americas LLC acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,256 shares of the medical device company’s stock, valued at approximately $2,911,000.

A number of other large investors have also recently made changes to their positions in the business. ORG Partners LLC bought a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at about $31,000. Headlands Technologies LLC purchased a new stake in Tandem Diabetes Care in the first quarter worth $35,000. MCF Advisors LLC lifted its holdings in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after buying an additional 445 shares in the last quarter. Signaturefd LLC lifted its holdings in Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after buying an additional 522 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Tandem Diabetes Care by 387.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,976 shares of the medical device company’s stock valued at $118,000 after buying an additional 3,161 shares during the period.

Tandem Diabetes Care Stock Down 1.6 %

TNDM stock traded down $0.70 on Friday, hitting $43.50. 1,006,827 shares of the company’s stock were exchanged, compared to its average volume of 1,526,089. The firm has a 50 day moving average price of $41.82 and a two-hundred day moving average price of $38.91. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $53.69. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The business had revenue of $221.90 million for 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 company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $57.00 in a report on Wednesday, May 22nd. 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 price objective for the company. Finally, Robert W. Baird raised their target price on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.36.

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.