Insider Buying: Tandem Diabetes Care, Inc. (NASDAQ:TNDM) COO Acquires 10,538 Shares of Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded down $0.27 on Tuesday, hitting $17.89. 3,730,117 shares of the stock traded hands, compared to its average volume of 1,477,873. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 52 week low of $17.36 and a 52 week high of $53.69. The firm has a 50 day simple moving average of $32.80 and a two-hundred day simple moving average of $35.29. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -9.27 and a beta of 1.45.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. Bellevue Group AG grew its position in shares of Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after purchasing an additional 113,355 shares during the period. MetLife Investment Management LLC grew its holdings in Tandem Diabetes Care by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after buying an additional 21,086 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings 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 buying an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after buying an additional 66,687 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on TNDM shares. Wells Fargo & Company restated an “equal weight” rating and issued a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays decreased their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

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.