Mirae Asset Global Investments Co. Ltd. Has $11.12 Million Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 397.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,614 shares of the medical device company’s stock after acquiring an additional 240,966 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.46% of Tandem Diabetes Care worth $11,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TNDM. Bellevue Group AG lifted its stake in shares of Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth $10,208,000. Victory Capital Management Inc. lifted its stake in shares of Tandem Diabetes Care by 45.6% in the third quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company’s stock worth $24,905,000 after buying an additional 183,877 shares during the last quarter. Chicago Capital LLC lifted its stake in shares of Tandem Diabetes Care by 22.2% in the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after buying an additional 182,085 shares during the last quarter. Finally, abrdn plc acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth $6,126,000.

Wall Street Analysts Forecast Growth

TNDM has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Canaccord Genuity Group cut their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note 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. Finally, Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.81.

Tandem Diabetes Care Stock Up 0.1 %

TNDM opened at $36.74 on Friday. The firm’s 50-day simple moving average is $35.20 and its 200-day simple moving average is $37.27. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a twelve month low of $22.03 and a twelve month high of $53.69. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -19.04 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Transactions at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

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.