Jennison Associates LLC Purchases 167,675 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jennison Associates LLC lifted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290,590 shares of the medical device company’s stock after purchasing an additional 167,675 shares during the period. Jennison Associates LLC’s holdings in Tandem Diabetes Care were worth $38,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Eminence Capital LP increased its holdings in shares of Tandem Diabetes Care by 76.1% in the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after purchasing an additional 2,372,458 shares during the last quarter. Chicago Capital LLC lifted its stake in Tandem Diabetes Care by 699.8% in the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock worth $18,785,000 after purchasing an additional 791,336 shares during the last quarter. Paradice Investment Management LLC boosted its holdings in Tandem Diabetes Care by 23.9% during the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after acquiring an additional 293,250 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Tandem Diabetes Care by 70.8% during the third quarter. Coronation Fund Managers Ltd. now owns 354,904 shares of the medical device company’s stock valued at $7,371,000 after purchasing an additional 147,058 shares during the period. Finally, Banque Pictet & Cie SA bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $2,295,000.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $35.12 on Thursday. The company has a market cap of $2.27 billion, a P/E ratio of -10.21 and a beta of 1.12. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $40.74. The company’s 50-day moving average price is $30.51 and its 200-day moving average price is $25.18. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. On average, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. SVB Leerink raised 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. Citigroup upped their price objective on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus boosted their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.45.

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.