Legato Capital Management LLC Acquires New Position in Tandem Diabetes Care, Inc. $TNDM

Legato Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 72,580 shares of the medical device company’s stock, valued at approximately $1,595,000. Legato Capital Management LLC owned approximately 0.11% of Tandem Diabetes Care at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TNDM. Caitong International Asset Management Co. Ltd grew its stake in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares during the period. Creative Financial Designs Inc. ADV grew its stake in shares of Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after buying an additional 909 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Tandem Diabetes Care by 36.6% in the 4th quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock valued at $79,000 after buying an additional 965 shares during the period. Quarry LP grew its stake in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after buying an additional 3,558 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Tandem Diabetes Care by 308.1% in the 4th quarter. GAMMA Investing LLC now owns 4,542 shares of the medical device company’s stock valued at $100,000 after buying an additional 3,429 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TNDM shares. Truist Financial reissued a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Stifel Nicolaus increased their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Lake Street Capital raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, February 23rd. The Goldman Sachs Group dropped their price target on shares of Tandem Diabetes Care from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.63.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $14.97 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of -10.69 and a beta of 1.64. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The company’s 50 day moving average is $19.34 and its two-hundred day moving average is $20.26.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.66) EPS. On average, research analysts expect that Tandem Diabetes Care, Inc. will post -0.79 EPS for the current fiscal year.

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.