Next Century Growth Investors LLC Reduces Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Next Century Growth Investors LLC lowered its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 79.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,839 shares of the medical device company's stock after selling 780,843 shares during the quarter. Next Century Growth Investors LLC owned about 0.31% of Tandem Diabetes Care worth $7,270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in Tandem Diabetes Care by 235.7% in the 4th 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 during the period. GW&K Investment Management LLC raised its holdings 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 worth $76,488,000 after buying an additional 323,674 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of 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 worth $56,040,000 after acquiring an additional 281,327 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tandem Diabetes Care by 89.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,062 shares of the medical device company's stock valued at $18,553,000 after acquiring an additional 242,965 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Tandem Diabetes Care by 397.3% in 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 during the last quarter.

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Analysts Set New Price Targets

TNDM has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an "equal weight" rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Robert W. Baird lowered their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Barclays decreased 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 research note on Friday, February 28th. Canaccord Genuity Group reissued a "buy" rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Finally, Citigroup lowered Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.88.

Insider Activity

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company's stock.

Tandem Diabetes Care Stock Up 4.0 %

TNDM traded up $0.68 during trading on Tuesday, hitting $17.71. The stock had a trading volume of 1,241,623 shares, compared to its average volume of 1,503,081. The stock has a 50 day simple moving average of $23.23 and a two-hundred day simple moving average of $30.64. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69. The company has a market capitalization of $1.18 billion, a PE ratio of -9.18 and a beta of 1.52.

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.