JPMorgan Chase & Co. Buys 195,003 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

JPMorgan Chase & Co. boosted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 98.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,586 shares of the medical device company's stock after acquiring an additional 195,003 shares during the period. JPMorgan Chase & Co. owned about 0.60% of Tandem Diabetes Care worth $14,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in Tandem Diabetes Care by 235.7% during the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company's stock worth $26,875,000 after purchasing an additional 523,843 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 18.0% in the fourth 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 period. Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 22.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company's stock valued at $56,040,000 after purchasing an additional 281,327 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tandem Diabetes Care by 89.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,062 shares of the medical device company's stock worth $18,553,000 after purchasing an additional 242,965 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tandem Diabetes Care by 397.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,614 shares of the medical device company's stock valued at $11,121,000 after acquiring an additional 240,966 shares in the last quarter.

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Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada lowered 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. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Mizuho assumed coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective for the company. The Goldman Sachs Group decreased their price target on 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. Finally, Robert W. Baird cut their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.88.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock traded up $0.68 during mid-day trading on Tuesday, reaching $17.71. 1,241,623 shares of the stock traded hands, compared to its average volume of 1,501,528. Tandem Diabetes Care, Inc. has a fifty-two week low of $15.75 and a fifty-two week 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 stock has a market capitalization of $1.18 billion, a PE ratio of -9.18 and a beta of 1.52. The business has a 50-day moving average of $23.23 and a 200 day moving average of $30.64.

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.