Champlain Investment Partners LLC Lowers Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Champlain Investment Partners LLC decreased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,379,863 shares of the medical device company's stock after selling 89,298 shares during the period. Champlain Investment Partners LLC owned about 2.10% of Tandem Diabetes Care worth $49,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board increased its position in shares of Tandem Diabetes Care by 838.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 16,900 shares of the medical device company's stock worth $609,000 after acquiring an additional 15,100 shares in the last quarter. Marshall Wace LLP increased its position in Tandem Diabetes Care by 16.9% during the 4th quarter. Marshall Wace LLP now owns 950,948 shares of the medical device company's stock worth $34,253,000 after purchasing an additional 137,354 shares in the last quarter. Jump Financial LLC bought a new position in shares of Tandem Diabetes Care during the fourth quarter valued at $1,358,000. Guggenheim Capital LLC increased its position in Tandem Diabetes Care by 40.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,107 shares of the medical device company's stock valued at $580,000 after purchasing an additional 4,608 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Tandem Diabetes Care by 43.6% during the 4th quarter. XTX Topco Ltd now owns 7,490 shares of the medical device company's stock worth $270,000 after buying an additional 2,273 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reduced their price objective 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. Barclays lowered their price target on shares of 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 reissued an "equal weight" rating and set a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Finally, Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.88.

Tandem Diabetes Care Stock Up 1.7 %

Shares of TNDM traded up $0.28 during midday trading on Wednesday, reaching $16.63. 784,229 shares of the stock were exchanged, compared to its average volume of 1,501,954. Tandem Diabetes Care, Inc. has a 12-month low of $15.75 and a 12-month high of $53.69. 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 company has a market cap of $1.11 billion, a price-to-earnings ratio of -8.62 and a beta of 1.52. The firm has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $29.69.

Insider Buying and Selling

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

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.