HighTower Advisors LLC Invests $343,000 in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

HighTower Advisors LLC acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,533 shares of the medical device company’s stock, valued at approximately $343,000.

A number of other large investors have also recently bought and sold shares of the business. AlphaQuest LLC increased its stake in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares during the period. Jones Financial Companies Lllp lifted its holdings in Tandem Diabetes Care by 195.8% in 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. Assetmark Inc. grew its stake in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after acquiring an additional 535 shares during the period. McIlrath & Eck LLC purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter worth $52,000. Finally, Smartleaf Asset Management LLC boosted its stake in Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after buying an additional 1,101 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TNDM. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Trading Down 2.2 %

Shares of NASDAQ:TNDM opened at $18.73 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company has a market capitalization of $1.25 billion, a P/E ratio of -9.70 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 52-week low of $17.64 and a 52-week high of $53.69. The company has a 50-day simple moving average of $27.43 and a 200 day simple moving average of $32.62.

Insider Transactions at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos purchased 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 directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

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.