Banque Pictet & Cie SA Trims Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Banque Pictet & Cie SA cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,286 shares of the medical device company's stock after selling 8,048 shares during the period. Banque Pictet & Cie SA owned 0.13% of Tandem Diabetes Care worth $3,144,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth about $29,000. Waldron Private Wealth LLC bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $50,000. McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care during the third quarter worth about $52,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Tandem Diabetes Care in the fourth quarter worth about $92,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TNDM. Canaccord Genuity Group dropped their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Morgan Stanley raised Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price target for the company in a research report on Monday, December 2nd. Citigroup cut their price objective on shares of 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. Barclays lifted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.81.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company's stock.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM traded down $0.85 during midday trading on Tuesday, hitting $32.62. The company had a trading volume of 1,066,351 shares, compared to its average volume of 922,972. Tandem Diabetes Care, Inc. has a 12-month low of $22.03 and a 12-month high of $53.69. The company has a fifty day moving average of $35.63 and a two-hundred day moving average of $36.95. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -16.90 and a beta of 1.32. 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 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.