abrdn plc Has $8.96 Million Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

abrdn plc grew its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 72.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 248,864 shares of the medical device company's stock after buying an additional 104,413 shares during the period. abrdn plc owned 0.38% of Tandem Diabetes Care worth $8,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company's stock worth $112,630,000 after purchasing an additional 83,172 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Tandem Diabetes Care by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company's stock worth $64,722,000 after purchasing an additional 18,187 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Tandem Diabetes Care by 12.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company's stock worth $54,051,000 after purchasing an additional 138,263 shares during the last quarter. Finally, Chicago Capital LLC boosted its position in shares of Tandem Diabetes Care by 22.2% in the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company's stock worth $42,543,000 after purchasing an additional 182,085 shares during the last quarter.

Tandem Diabetes Care Stock Down 1.8 %

Shares of Tandem Diabetes Care stock traded down $0.61 during trading on Wednesday, reaching $32.91. The stock had a trading volume of 710,930 shares, compared to its average volume of 908,205. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.05 and a beta of 1.32. The stock has a fifty day moving average price of $35.49 and a two-hundred day moving average price of $37.01. Tandem Diabetes Care, Inc. has a 52 week low of $22.03 and a 52 week high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upgraded Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price target on the stock in a research report on Monday, December 2nd. Citigroup reduced their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Robert W. Baird reduced their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 target price on the stock. Finally, Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and an average price target of $53.81.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares of the company's stock, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

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.