Swiss National Bank Purchases 2,500 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Swiss National Bank increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,700 shares of the medical device company’s stock after purchasing an additional 2,500 shares during the period. Swiss National Bank owned approximately 0.20% of Tandem Diabetes Care worth $4,636,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Baillie Gifford & Co. raised its holdings in Tandem Diabetes Care by 235.7% during the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock worth $26,875,000 after buying an additional 523,843 shares during the last quarter. GW&K Investment Management LLC raised its holdings 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 worth $76,488,000 after acquiring an additional 323,674 shares during the last quarter. Bellevue Group AG lifted its position in Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in Tandem Diabetes Care by 22.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company’s stock valued at $56,040,000 after acquiring an additional 281,327 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tandem Diabetes Care by 89.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,062 shares of the medical device company’s stock valued at $18,553,000 after purchasing an additional 242,965 shares during the last quarter.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $20.62 on Tuesday. Tandem Diabetes Care, Inc. has a 1 year low of $17.64 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock’s fifty day moving average price is $29.39 and its two-hundred day moving average price is $33.60. The firm has a market cap of $1.37 billion, a PE ratio of -10.68 and a beta of 1.45.

Analysts Set New Price Targets

Several analysts have recently commented on TNDM shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. The Goldman Sachs Group lowered their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Robert W. Baird cut their price target 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. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.38.

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.