Jennison Associates LLC Has $38.18 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jennison Associates LLC grew its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,290,590 shares of the medical device company’s stock after acquiring an additional 167,675 shares during the period. Jennison Associates LLC owned 1.98% of Tandem Diabetes Care worth $38,176,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RiverPark Advisors LLC bought a new stake in shares of Tandem Diabetes Care in the fourth quarter worth $27,000. Signaturefd LLC grew its position in shares of Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after buying an additional 1,517 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Tandem Diabetes Care by 51.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock valued at $67,000 after buying an additional 1,099 shares during the period. Creative Financial Designs Inc. ADV bought a new position in shares of Tandem Diabetes Care during the fourth quarter worth about $104,000. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Tandem Diabetes Care during the third quarter worth about $112,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TNDM. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Stifel Nicolaus upped their price objective 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. Citigroup lifted their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, SVB Leerink upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $45.00 in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.45.

Tandem Diabetes Care Trading Up 0.4 %

TNDM opened at $35.12 on Thursday. The company has a fifty day moving average price of $30.51 and a two-hundred day moving average price of $25.18. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $40.74. The company has a market cap of $2.27 billion, a P/E ratio of -10.21 and a beta of 1.12. 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 issued its 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 net margin of 29.77% and a negative return on equity of 31.48%. The firm had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS 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.