Hanseatic Management Services Inc. Acquires 710 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Hanseatic Management Services Inc. boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 13,941 shares of the medical device company’s stock after purchasing an additional 710 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Tandem Diabetes Care were worth $591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TNDM. BNP Paribas Financial Markets lifted its holdings in shares of Tandem Diabetes Care by 1,481.5% during the first quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock worth $5,163,000 after purchasing an additional 136,592 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tandem Diabetes Care during the 1st quarter worth about $540,000. Vanguard Group Inc. grew its position in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tandem Diabetes Care in the first quarter valued at about $5,227,000. Finally, Quantbot Technologies LP bought a new position in shares of Tandem Diabetes Care during the first quarter worth about $710,000.

Analyst Upgrades and Downgrades

TNDM has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday. They issued an “outperform” rating and a $42.00 price objective on the stock. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Barclays boosted their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average target price of $54.31.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $34.24 on Thursday. The company has a market cap of $2.24 billion, a P/E ratio of -16.38 and a beta of 1.36. The company has a fifty day simple moving average of $39.21 and a 200 day simple moving average of $41.88. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $53.69.

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.