AlphaCentric Advisors LLC Buys New Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

AlphaCentric Advisors LLC purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,105 shares of the medical device company's stock, valued at approximately $292,000.

A number of other large investors have also recently modified their holdings of TNDM. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care during the 3rd quarter worth $28,000. Assetmark Inc. purchased a new position in shares of Tandem Diabetes Care during the third quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tandem Diabetes Care by 4.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company's stock valued at $664,000 after buying an additional 704 shares during the period. Hanseatic Management Services Inc. raised its holdings in shares of Tandem Diabetes Care by 5.4% in the third quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company's stock valued at $591,000 after acquiring an additional 710 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Tandem Diabetes Care by 14.0% in the third quarter. Coldstream Capital Management Inc. now owns 6,212 shares of the medical device company's stock worth $263,000 after acquiring an additional 762 shares during the period.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of research reports. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 target price on the stock. Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price objective on the stock in a report on Monday, December 2nd. Citigroup lowered their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Robert W. Baird cut their price target 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. Finally, Barclays upped their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.81.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM traded up $0.40 during trading hours on Thursday, hitting $32.12. 1,141,430 shares of the company were exchanged, compared to its average volume of 938,483. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 52-week low of $22.03 and a 52-week high of $53.69. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -16.64 and a beta of 1.32. The company's 50 day moving average price is $35.51 and its 200-day moving average price is $36.82.

Tandem Diabetes Care 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.