Victory Capital Management Inc. Decreases Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Victory Capital Management Inc. trimmed its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,233 shares of the medical device company’s stock after selling 22,014 shares during the period. Victory Capital Management Inc. owned approximately 0.86% of Tandem Diabetes Care worth $20,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNDM. Charles Schwab Investment Management Inc. grew its stake in shares of Tandem Diabetes Care by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,321 shares of the medical device company’s stock valued at $21,696,000 after acquiring an additional 16,258 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 748 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after purchasing an additional 1,101 shares during the last quarter. US Bancorp DE increased its holdings in Tandem Diabetes Care by 15.2% during the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock worth $1,394,000 after purchasing an additional 5,108 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Tandem Diabetes Care by 18.0% in the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock valued at $76,488,000 after purchasing an additional 323,674 shares in the last quarter.

Analyst Ratings Changes

TNDM has been the subject of a number of research analyst reports. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Wells Fargo & Company reissued an “equal weight” rating and set a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Citigroup lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Robert W. Baird decreased their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada cut their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average target price of $45.38.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $17.89 on Wednesday. The firm has a fifty day moving average of $32.43 and a 200-day moving average of $35.10. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.27 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 1 year low of $17.64 and a 1 year high of $53.69.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

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.