Bridgewater Associates LP Decreases Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bridgewater Associates LP decreased its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 71.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,378 shares of the medical device company's stock after selling 18,257 shares during the period. Bridgewater Associates LP's holdings in Tandem Diabetes Care were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TNDM. Stifel Financial Corp increased its stake in shares of Tandem Diabetes Care by 6.8% in the 3rd quarter. Stifel Financial Corp now owns 34,072 shares of the medical device company's stock worth $1,445,000 after acquiring an additional 2,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tandem Diabetes Care by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company's stock worth $64,722,000 after purchasing an additional 18,187 shares during the period. McIlrath & Eck LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter valued at approximately $52,000. Franklin Resources Inc. boosted its position in shares of Tandem Diabetes Care by 95.6% in the 3rd quarter. Franklin Resources Inc. now owns 26,785 shares of the medical device company's stock worth $1,136,000 after purchasing an additional 13,088 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock worth $8,379,000 after buying an additional 113,355 shares during the last quarter.

Insider Transactions at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction on Friday, March 7th. The shares were acquired at an average price 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 in the company, valued at $190,948.56. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of recent research reports. Barclays cut their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Wells Fargo & Company reissued 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 report on Monday, March 3rd. Finally, Robert W. Baird lowered their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's 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 Price Performance

Shares of NASDAQ:TNDM traded up $0.40 during midday trading on Friday, reaching $18.07. 545,661 shares of the company were exchanged, compared to its average volume of 1,500,390. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market cap of $1.20 billion, a PE ratio of -9.32 and a beta of 1.52. The business's fifty day moving average is $20.46 and its two-hundred day moving average is $29.44. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69.

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.