ExodusPoint Capital Management LP Acquires 195,194 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

ExodusPoint Capital Management LP boosted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 331.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,057 shares of the medical device company's stock after acquiring an additional 195,194 shares during the period. ExodusPoint Capital Management LP owned 0.39% of Tandem Diabetes Care worth $9,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNDM. Baillie Gifford & Co. increased 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 valued at $26,875,000 after buying an additional 523,843 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 18.0% during 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 acquiring an additional 323,674 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Tandem Diabetes Care by 22.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company's stock worth $56,040,000 after purchasing an additional 281,327 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 in the last quarter. 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 purchasing an additional 240,966 shares during the period.

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Tandem Diabetes Care Price Performance

Shares of TNDM stock traded down $1.04 during mid-day trading on Thursday, hitting $16.57. The company had a trading volume of 525,518 shares, compared to its average volume of 1,489,053. The company has a market capitalization of $1.10 billion, a P/E ratio of -8.58 and a beta of 1.52. The stock's 50 day moving average price is $24.39 and its 200-day moving average price is $31.30. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Insider Activity

In related news, COO Jean-Claude Kyrillos bought 10,538 shares of the business's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reiterated an "equal weight" rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Morgan Stanley downgraded Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Mizuho began coverage on Tandem Diabetes Care in a research report on Thursday. They set a "neutral" rating and a $20.00 target price on the stock. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.88.

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.