Lisanti Capital Growth LLC Invests $3.13 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Lisanti Capital Growth LLC purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 105,895 shares of the medical device company’s stock, valued at approximately $3,132,000. Lisanti Capital Growth LLC owned approximately 0.16% of Tandem Diabetes Care at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. M&T Bank Corp boosted its position in Tandem Diabetes Care by 118.7% during the fourth quarter. M&T Bank Corp now owns 49,649 shares of the medical device company’s stock worth $1,469,000 after purchasing an additional 26,943 shares in the last quarter. Natixis Advisors L.P. purchased a new position in Tandem Diabetes Care during the fourth quarter worth approximately $1,025,000. Van ECK Associates Corp boosted its position in Tandem Diabetes Care by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after purchasing an additional 467 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Tandem Diabetes Care by 79.5% during the fourth quarter. Russell Investments Group Ltd. now owns 247,325 shares of the medical device company’s stock worth $7,316,000 after purchasing an additional 109,505 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in Tandem Diabetes Care during the fourth quarter worth approximately $2,588,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TNDM. SVB Leerink upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $34.00 to $45.00 in a research report on Thursday, April 25th. 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 report on Friday. Citigroup increased their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Barclays increased their target price on Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus increased their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

Tandem Diabetes Care Trading Down 2.7 %

Tandem Diabetes Care stock traded down $1.22 during mid-day trading on Monday, hitting $43.50. The company’s stock had a trading volume of 1,498,367 shares, compared to its average volume of 1,770,159. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $47.00. The stock’s fifty day moving average is $32.58 and its two-hundred day moving average is $26.35. The firm has a market capitalization of $2.81 billion, a PE ratio of -20.05 and a beta of 1.10. The company has a current ratio of 3.81, a quick ratio of 3.01 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) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $204.86 million. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current 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.