Truist Financial Corp Takes $2.59 Million Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Truist Financial Corp acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 87,484 shares of the medical device company’s stock, valued at approximately $2,588,000. Truist Financial Corp owned about 0.13% of Tandem Diabetes Care at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new position in Tandem Diabetes Care in the 4th quarter valued at $27,000. Signaturefd LLC boosted its position in shares of Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Tandem Diabetes Care by 51.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after purchasing an additional 1,099 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter worth $73,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter worth $104,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Tandem Diabetes Care from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $45.00 in a research note on Monday, April 29th. Stifel Nicolaus upped their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Piper Sandler reissued an “overweight” rating and set a $50.00 target price (up previously from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Finally, SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $45.00 in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.80.

Tandem Diabetes Care Stock Down 4.2 %

NASDAQ TNDM opened at $42.15 on Thursday. The stock has a market cap of $2.72 billion, a PE ratio of -19.42 and a beta of 1.10. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $47.00. The business has a 50 day moving average price of $33.22 and a two-hundred day moving average price of $26.64. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

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.