Quantinno Capital Management LP Acquires 361,361 Shares of Tandem Diabetes Care, Inc. $TNDM

Quantinno Capital Management LP boosted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 123.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 653,870 shares of the medical device company’s stock after buying an additional 361,361 shares during the period. Quantinno Capital Management LP’s holdings in Tandem Diabetes Care were worth $12,535,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $22,706,000. First Light Asset Management LLC acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth $23,947,000. BNP Paribas Financial Markets lifted its position in Tandem Diabetes Care by 468.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock valued at $27,442,000 after acquiring an additional 1,028,866 shares in the last quarter. Marshall Wace LLP acquired a new position in Tandem Diabetes Care in the 4th quarter worth $19,244,000. Finally, Jennison Associates LLC increased its holdings in Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares in the last quarter.

Tandem Diabetes Care Stock Up 3.1%

Tandem Diabetes Care stock opened at $20.11 on Tuesday. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The company’s 50-day moving average is $16.62 and its 200-day moving average is $18.89. The firm has a market capitalization of $1.38 billion, a PE ratio of -14.36 and a beta of 1.53. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.16. The business had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.66) EPS. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen restated a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $27.00 in a research note on Monday, June 1st. Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the stock an “overweight” rating in a research note on Monday, May 11th. Mizuho reduced their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, Bank of America lowered their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.73.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.