Baillie Gifford & Co. Acquires 523,843 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Baillie Gifford & Co. lifted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 235.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 746,109 shares of the medical device company's stock after buying an additional 523,843 shares during the quarter. Baillie Gifford & Co. owned about 1.14% of Tandem Diabetes Care worth $26,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bellevue Group AG boosted its stake in 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 worth $78,496,000 after acquiring an additional 307,624 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in 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 acquiring an additional 281,327 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tandem Diabetes Care by 397.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,614 shares of the medical device company's stock worth $11,121,000 after acquiring an additional 240,966 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care during the third quarter worth about $10,208,000. Finally, Victory Capital Management Inc. boosted its stake in Tandem Diabetes Care by 45.6% during the third quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company's stock worth $24,905,000 after acquiring an additional 183,877 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM traded down $1.12 during midday trading on Friday, reaching $31.00. The stock had a trading volume of 906,169 shares, compared to its average volume of 937,531. The stock has a 50-day moving average of $35.48 and a 200-day moving average of $36.75. 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 company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.06 and a beta of 1.32. Tandem Diabetes Care, Inc. has a 12-month low of $24.42 and a 12-month high of $53.69.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several research reports. Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Barclays boosted their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, Citigroup decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and an average price target of $53.81.

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.