Teacher Retirement System of Texas Acquires Shares of 27,570 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Teacher Retirement System of Texas bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 27,570 shares of the medical device company’s stock, valued at approximately $993,000.

Several other institutional investors also recently modified their holdings of TNDM. State Street Corp boosted its stake in Tandem Diabetes Care by 3.2% during the third quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock worth $112,630,000 after acquiring an additional 83,172 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Tandem Diabetes Care by 18.0% during the fourth 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 during the last quarter. Bellevue Group AG boosted its position in shares of 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 worth $78,496,000 after purchasing an additional 307,624 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of 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 worth $56,040,000 after buying an additional 281,327 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Tandem Diabetes Care by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock valued at $64,722,000 after buying an additional 18,187 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TNDM shares. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. The Goldman Sachs Group decreased 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. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $25.00 in a report on Friday, February 28th. Royal Bank of Canada decreased their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Citigroup downgraded 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. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Insider Transactions at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $19.28 on Friday. Tandem Diabetes Care, Inc. has a 12-month low of $17.64 and a 12-month high of $53.69. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.99 and a beta of 1.45. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $28.08 and a 200 day moving average of $33.04.

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.