Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 315,727 shares of the medical device company's stock after purchasing an additional 105,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Tandem Diabetes Care worth $11,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC boosted its stake in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in 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 valued at $41,000 after buying an additional 748 shares during the period. Assetmark Inc. lifted its position in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after buying an additional 535 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in Tandem Diabetes Care during the third quarter worth approximately $52,000. Finally, Smartleaf Asset Management LLC increased its position in shares of 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 worth $65,000 after acquiring an additional 1,101 shares in the last quarter.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of research reports. 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 report on Friday, February 28th. Mizuho initiated coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Citigroup lowered Tandem Diabetes Care from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.88.

Tandem Diabetes Care Stock Performance

TNDM traded down $0.40 during trading hours on Friday, hitting $16.86. The company's stock had a trading volume of 1,132,393 shares, compared to its average volume of 1,503,733. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. 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 50-day simple moving average of $21.77 and a 200 day simple moving average of $30.12. The firm has a market capitalization of $1.12 billion, a PE ratio of -8.74 and a beta of 1.52.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred 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 completion of the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

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.