Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 73.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,922 shares of the medical device company’s stock after selling 19,203 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tandem Diabetes Care were worth $249,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care in the third quarter valued at $28,000. Assetmark Inc. acquired a new position in Tandem Diabetes Care in the third quarter valued at $29,000. McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $52,000. Venturi Wealth Management LLC boosted its holdings in Tandem Diabetes Care by 5,955.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company’s stock valued at $74,000 after acquiring an additional 2,025 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Tandem Diabetes Care in the third quarter valued at $105,000.

Tandem Diabetes Care Stock Down 4.1 %

Shares of Tandem Diabetes Care stock opened at $17.96 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $33.17 and a 200 day moving average price of $35.51. Tandem Diabetes Care, Inc. has a fifty-two week low of $17.92 and a fifty-two week high of $53.69. The firm has a market cap of $1.19 billion, a P/E ratio of -9.31 and a beta of 1.45.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein cut Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Citigroup lowered Tandem Diabetes Care from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group dropped their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Barclays dropped their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.