Victory Capital Management Inc. Has $24.91 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Victory Capital Management Inc. boosted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 45.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 587,247 shares of the medical device company’s stock after buying an additional 183,877 shares during the quarter. Victory Capital Management Inc.’s holdings in Tandem Diabetes Care were worth $24,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC increased its holdings in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares during the period. Kingdon Capital Management L.L.C. increased its stake in Tandem Diabetes Care by 153.9% during the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock valued at $17,460,000 after acquiring an additional 298,880 shares during the period. First Light Asset Management LLC raised its holdings in Tandem Diabetes Care by 49.1% in the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after acquiring an additional 233,405 shares in the last quarter. Brown Capital Management LLC lifted its position in shares of Tandem Diabetes Care by 29.9% in the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after acquiring an additional 219,940 shares during the period. Finally, Chicago Capital LLC grew its holdings in shares of Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after purchasing an additional 182,085 shares in the last quarter.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $27.34 on Monday. Tandem Diabetes Care, Inc. has a 12-month low of $17.33 and a 12-month high of $53.69. The stock has a 50-day simple moving average of $37.46 and a 200 day simple moving average of $41.64. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.17 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The company’s revenue was up 31.4% on a year-over-year basis. On average, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TNDM. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Robert W. Baird reduced 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. Barclays upped their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Finally, UBS Group raised Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care 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.