Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 6.1% After Insider Buying Activity

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s share price rose 6.1% on Wednesday following insider buying activity. The company traded as high as $18.92 and last traded at $18.98. Approximately 283,146 shares changed hands during trading, a decline of 82% from the average daily volume of 1,558,233 shares. The stock had previously closed at $17.89.

Specifically, COO Jean-Claude Kyrillos acquired 10,538 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target 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. Morgan Stanley lowered shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Barclays dropped their target price 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. Canaccord Genuity Group reaffirmed a "buy" rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.38.

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Tandem Diabetes Care Stock Down 3.1 %

The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -9.42 and a beta of 1.45. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm's fifty day moving average is $31.74 and its two-hundred day moving average is $34.87.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care during the third quarter valued at about $29,000. AlphaQuest LLC grew its holdings in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after acquiring an additional 541 shares during the period. Jones Financial Companies Lllp raised its position 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 worth $41,000 after acquiring an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at about $52,000.

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.