Voya Investment Management LLC Boosts Stake in Tandem Diabetes Care, Inc. $TNDM

Voya Investment Management LLC raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,146 shares of the medical device company’s stock after acquiring an additional 36,397 shares during the period. Voya Investment Management LLC owned approximately 0.26% of Tandem Diabetes Care worth $2,114,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TNDM. Praxis Investment Management Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter worth approximately $150,000. Squarepoint Ops LLC increased its holdings in shares of Tandem Diabetes Care by 45.8% in the 2nd quarter. Squarepoint Ops LLC now owns 180,660 shares of the medical device company’s stock worth $3,368,000 after buying an additional 56,777 shares during the last quarter. State of Wyoming increased its holdings in shares of Tandem Diabetes Care by 379.9% in the 2nd quarter. State of Wyoming now owns 21,436 shares of the medical device company’s stock worth $400,000 after buying an additional 16,969 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Tandem Diabetes Care by 9.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 227,104 shares of the medical device company’s stock valued at $4,233,000 after buying an additional 18,873 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Tandem Diabetes Care by 5.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 56,332 shares of the medical device company’s stock worth $1,051,000 after acquiring an additional 3,054 shares during the last quarter.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $22.35 on Monday. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $38.28. The business’s 50 day simple moving average is $18.89 and its two-hundred day simple moving average is $16.10. The stock has a market capitalization of $1.52 billion, a P/E ratio of -7.33 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter last year, the business earned ($0.35) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup increased their target price on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.94.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.