Connor Clark & Lunn Investment Management Ltd. Purchases 242,965 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 89.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,062 shares of the medical device company's stock after purchasing an additional 242,965 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.78% of Tandem Diabetes Care worth $18,553,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company's stock valued at $112,630,000 after purchasing an additional 83,172 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company's stock valued at $76,488,000 after purchasing an additional 323,674 shares during the last quarter. Bellevue Group AG grew its holdings in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after purchasing an additional 307,624 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 22.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company's stock worth $56,040,000 after acquiring an additional 281,327 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in 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 acquiring an additional 18,187 shares in the last quarter.

Insider Buying and Selling at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $18.18 on Friday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -9.42 and a beta of 1.45. Tandem Diabetes Care, Inc. has a twelve month low of $17.64 and a twelve 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 50 day moving average of $31.74 and a two-hundred day moving average of $34.87.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays dropped their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group dropped their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Wells Fargo & Company restated an "equal weight" rating and issued a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Finally, 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 on the stock in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.38.

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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.

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