Hood River Capital Management LLC Buys Shares of 1,278,047 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Hood River Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,278,047 shares of the medical device company's stock, valued at approximately $46,035,000. Hood River Capital Management LLC owned approximately 1.95% of Tandem Diabetes Care as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TNDM. AlphaQuest LLC boosted its position in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after buying an additional 541 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after purchasing an additional 535 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care during the third quarter valued at $52,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after purchasing an additional 1,101 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TNDM shares. Royal Bank of Canada decreased their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group reduced their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Robert W. Baird cut their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price objective for the company. Finally, Morgan Stanley lowered shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price target 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.88.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $16.35 on Wednesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -8.47 and a beta of 1.52. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company's 50-day moving average is $21.11 and its two-hundred day moving average is $29.69.

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.

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