Raymond James Financial Inc. Purchases New Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James Financial Inc. bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 163,614 shares of the medical device company's stock, valued at approximately $5,893,000. Raymond James Financial Inc. owned about 0.25% of Tandem Diabetes Care at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bellevue Group AG increased its position in shares of Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after acquiring an additional 307,624 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock worth $8,379,000 after purchasing an additional 113,355 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company's stock worth $1,587,000 after buying an additional 21,086 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after buying an additional 1,101 shares during the period. Finally, US Bancorp DE boosted its stake in Tandem Diabetes Care by 15.2% in the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company's stock valued at $1,394,000 after acquiring an additional 5,108 shares during the last quarter.

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Tandem Diabetes Care Price Performance

TNDM traded down $0.53 during midday trading on Friday, hitting $19.28. The stock had a trading volume of 934,853 shares, compared to its average volume of 1,478,329. Tandem Diabetes Care, Inc. has a 1 year low of $17.64 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The business has a fifty day moving average of $28.40 and a 200 day moving average of $33.25. The company has a market cap of $1.28 billion, a P/E ratio of -9.99 and a beta of 1.45.

Insider Activity

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TNDM has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on 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 cut their target price 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 lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Finally, Robert W. Baird reduced 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 note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and a consensus target price of $45.38.

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.