Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Position Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 368.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,125 shares of the medical device company’s stock after purchasing an additional 20,549 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tandem Diabetes Care were worth $1,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in Tandem Diabetes Care during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in Tandem Diabetes Care during the 3rd quarter valued at $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care during the 2nd quarter valued at $31,000. Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the 3rd quarter valued at $50,000. Finally, Headlands Technologies LLC boosted its stake in Tandem Diabetes Care by 110.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after purchasing an additional 1,079 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $28.76 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 1 year low of $17.33 and a 1 year high of $53.69. The business has a fifty day simple moving average of $37.46 and a 200 day simple moving average of $41.68. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -14.90 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same period last year, the company earned ($0.38) earnings per share. Tandem Diabetes Care’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TNDM shares. Barclays increased their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued 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 an average price target of $54.25.

About Tandem Diabetes Care

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.