Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Capital World Investors

Capital World Investors lowered its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 76.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 767,000 shares of the medical device company’s stock after selling 2,498,300 shares during the quarter. Capital World Investors owned approximately 1.17% of Tandem Diabetes Care worth $27,627,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TNDM. AlphaQuest LLC increased its position in 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 purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of 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 worth $41,000 after buying an additional 748 shares during the period. McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $52,000. Assetmark Inc. grew its position in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after acquiring an additional 1,101 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TNDM. Royal Bank of Canada dropped their target price on shares of 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. Canaccord Genuity Group restated a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Barclays lowered their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company restated an “equal weight” rating and set a $22.00 price objective (down previously from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.88.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the acquisition, the chief operating officer now owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade 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 this hyperlink. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $16.39 on Tuesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -8.49 and a beta of 1.52. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69. The company’s 50-day simple moving average is $21.44 and its 200-day simple moving average is $29.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

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.