Connor Clark & Lunn Investment Management Ltd. Has $11.54 Million Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 32.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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. owned 0.42% of Tandem Diabetes Care worth $11,540,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TNDM. Sei Investments Co. boosted its stake in Tandem Diabetes Care by 125.8% during the 1st quarter. Sei Investments Co. now owns 17,349 shares of the medical device company’s stock worth $614,000 after acquiring an additional 9,666 shares during the last quarter. Vanguard Group Inc. increased its stake 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 worth $249,732,000 after acquiring an additional 30,664 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tandem Diabetes Care during the first quarter worth about $540,000. Brown Capital Management LLC increased its stake in Tandem Diabetes Care by 29.9% in the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after acquiring an additional 219,940 shares during the last quarter. Finally, BOKF NA raised its position in Tandem Diabetes Care by 28.9% during the first quarter. BOKF NA now owns 23,817 shares of the medical device company’s stock valued at $806,000 after purchasing an additional 5,345 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on TNDM shares. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price on the stock. Canaccord Genuity Group dropped 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 research note on Thursday, November 7th. Wells Fargo & Company increased their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $30.74 on Friday. The firm has a market capitalization of $2.02 billion, a P/E ratio of -15.93 and a beta of 1.36. 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 52 week low of $18.42 and a 52 week high of $53.69. The stock has a 50 day moving average price of $36.68 and a two-hundred day moving average price of $41.42.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.38) earnings per share. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

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.