Assetmark Inc. Acquires Shares of 690 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Assetmark Inc. bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the third quarter, HoldingsChannel reports. The firm bought 690 shares of the medical device company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth approximately $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care in the 2nd quarter worth about $31,000. Waldron Private Wealth LLC purchased a new position in Tandem Diabetes Care during the 3rd quarter worth $50,000. Headlands Technologies LLC increased its stake in shares of 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. purchased a new position in Tandem Diabetes Care during the 2nd quarter valued at about $86,000.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM opened at $27.87 on Wednesday. Tandem Diabetes Care, Inc. has a 1 year low of $17.33 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The business’s 50 day moving average price is $37.19 and its 200-day moving average price is $41.62. The firm has a market capitalization of $1.83 billion, a PE ratio of -14.44 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share 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 for the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the previous year, the firm posted ($0.38) EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target for the company. Canaccord Genuity Group decreased their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays upped their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.25.

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.