Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Bought by US Bancorp DE

US Bancorp DE lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,708 shares of the medical device company’s stock after buying an additional 5,108 shares during the period. US Bancorp DE owned approximately 0.06% of Tandem Diabetes Care worth $1,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GW&K Investment Management LLC lifted its position in Tandem Diabetes Care by 18.0% in the fourth quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after purchasing an additional 323,674 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Tandem Diabetes Care by 4.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 61,704 shares of the medical device company’s stock valued at $2,223,000 after buying an additional 2,612 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tandem Diabetes Care by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 436,692 shares of the medical device company’s stock valued at $15,730,000 after buying an additional 4,130 shares in the last quarter. RWC Asset Management LLP bought a new position in shares of Tandem Diabetes Care in the fourth quarter valued at $221,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Tandem Diabetes Care during the 4th quarter valued at $510,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays cut their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group dropped their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $45.00 to $22.00 in a report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.38.

Tandem Diabetes Care Stock Down 4.1 %

Shares of TNDM opened at $17.96 on Friday. The company has a 50-day simple moving average of $33.17 and a 200-day simple moving average of $35.51. The firm has a market capitalization of $1.19 billion, a P/E ratio of -9.31 and a beta of 1.45. 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 $17.92 and a 52 week high of $53.69.

Tandem Diabetes Care 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.