State of New Jersey Common Pension Fund D Acquires 8,837 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State of New Jersey Common Pension Fund D grew its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 24.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,776 shares of the medical device company’s stock after acquiring an additional 8,837 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Tandem Diabetes Care worth $1,899,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TNDM. Fred Alger Management LLC grew its position in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after acquiring an additional 677,036 shares in the last quarter. Victory Capital Management Inc. grew its position in Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock worth $16,252,000 after acquiring an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. grew its position in Tandem Diabetes Care by 153.9% in the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after acquiring an additional 298,880 shares in the last quarter. First Light Asset Management LLC grew its position in Tandem Diabetes Care by 49.1% in the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after acquiring an additional 233,405 shares in the last quarter. Finally, Brown Capital Management LLC boosted its holdings in shares of Tandem Diabetes Care by 29.9% during the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after buying an additional 219,940 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on TNDM shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Barclays upped their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Trading Down 4.4 %

Shares of TNDM stock opened at $27.34 on Monday. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -14.17 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a fifty day moving average of $37.46 and a 200-day moving average of $41.64.

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, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.38) EPS. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal 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.