Nicholas Investment Partners LP Purchases Shares of 98,063 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Nicholas Investment Partners LP purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 98,063 shares of the medical device company’s stock, valued at approximately $3,951,000. Nicholas Investment Partners LP owned approximately 0.15% of Tandem Diabetes Care at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D bought a new stake in Tandem Diabetes Care during the second quarter valued at $1,448,000. Ground Swell Capital LLC bought a new stake in Tandem Diabetes Care during the second quarter valued at $391,000. ClariVest Asset Management LLC bought a new stake in Tandem Diabetes Care during the second quarter valued at $1,134,000. Headlands Technologies LLC boosted its stake in Tandem Diabetes Care by 110.0% during the second quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after buying an additional 1,079 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Tandem Diabetes Care during the second quarter valued at $86,000.

Analysts Set New Price Targets

TNDM has been the subject of several research analyst reports. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Morgan Stanley initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 price target for the company. Lake Street Capital lifted their price target on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Oppenheimer lifted their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus price target of $54.36.

Tandem Diabetes Care Stock Up 4.2 %

TNDM opened at $42.73 on Thursday. The company has a market cap of $2.76 billion, a P/E ratio of -19.69 and a beta of 1.32. The business’s 50-day moving average price is $42.12 and its 200-day moving average price is $39.87. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) earnings per share. On average, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.76 EPS 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.