Prudential Financial Inc. Grows Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Prudential Financial Inc. boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,884 shares of the medical device company's stock after purchasing an additional 39,784 shares during the quarter. Prudential Financial Inc. owned about 0.27% of Tandem Diabetes Care worth $6,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. AlphaQuest LLC boosted its holdings in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. grew its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after acquiring an additional 535 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $52,000.

Tandem Diabetes Care Stock Performance

Shares of TNDM traded down $0.78 on Friday, reaching $16.88. The company's stock had a trading volume of 2,031,982 shares, compared to its average volume of 1,471,404. The stock's 50 day simple moving average is $26.36 and its two-hundred day simple moving average is $32.24. 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 stock has a market capitalization of $1.12 billion, a P/E ratio of -8.75 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 12-month low of $16.11 and a 12-month high of $53.69.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target 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. The Goldman Sachs Group reduced their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Sanford C. Bernstein cut Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Citigroup downgraded Tandem Diabetes Care from a "buy" rating to a "neutral" rating and cut their target price for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird decreased their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.38.

Insider Activity

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business's stock in a transaction that occurred 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 purchase, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company's stock.

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.