Connor Clark & Lunn Investment Management Ltd. Grows Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Connor Clark & Lunn Investment Management Ltd. increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 32.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 272,097 shares of the medical device company’s stock after purchasing an additional 66,687 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tandem Diabetes Care were worth $11,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tandem Diabetes Care in the first quarter valued at about $540,000. Vanguard Group Inc. increased its holdings in Tandem Diabetes Care by 0.4% during 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 purchasing an additional 30,664 shares during the period. Oppenheimer & Co. Inc. raised its position in Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares during the last quarter. abrdn plc bought a new position in Tandem Diabetes Care during the 3rd quarter valued at approximately $6,126,000. Finally, LMR Partners LLP lifted its holdings in Tandem Diabetes Care by 235.5% in the 3rd quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock worth $1,434,000 after buying an additional 23,743 shares during the period.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $30.74 on Friday. The firm has a market cap of $2.02 billion, a P/E ratio of -15.93 and a beta of 1.36. Tandem Diabetes Care, Inc. has a twelve month low of $18.42 and a twelve month high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a 50 day moving average of $36.68 and a 200 day moving average of $41.42.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. During the same period in the prior year, the company posted ($0.38) earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on TNDM shares. Robert W. Baird decreased their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price on the stock. Barclays increased their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

About Tandem Diabetes Care

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.