Squarepoint Ops LLC Purchases New Stake in Tandem Diabetes Care, Inc. $TNDM

Squarepoint Ops LLC purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 217,386 shares of the medical device company’s stock, valued at approximately $3,280,000.

Several other institutional investors also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $395,000. California State Teachers Retirement System lifted its holdings in shares of Tandem Diabetes Care by 1,283.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,165,355 shares of the medical device company’s stock valued at $17,585,000 after acquiring an additional 1,081,100 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Tandem Diabetes Care during the 2nd quarter valued at $180,000. Beaconlight Capital LLC lifted its holdings in shares of Tandem Diabetes Care by 4.8% during the 2nd quarter. Beaconlight Capital LLC now owns 266,009 shares of the medical device company’s stock valued at $4,014,000 after acquiring an additional 12,132 shares in the last quarter. Finally, Prosperitas Financial LLC purchased a new stake in Tandem Diabetes Care during the 2nd quarter worth $151,000.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $17.11 on Friday. Tandem Diabetes Care, Inc. has a 12-month low of $11.46 and a 12-month high of $29.65. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -18.40 and a beta of 1.55. The firm’s fifty day moving average price is $19.47 and its 200 day moving average price is $19.19.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The company had revenue of $254.56 million during the quarter, compared to analysts’ expectations of $254.99 million. During the same period in the prior year, the company posted ($0.78) EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts forecast that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several recent research reports. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and increased their price target for the company from $21.00 to $27.00 in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft started coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price objective on the stock. The Goldman Sachs Group set a $21.00 target price on Tandem Diabetes Care in a research note on Wednesday, May 27th. Citigroup reiterated a “neutral” rating and set a $21.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.34.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.