Wealthfront Advisers LLC Invests $1.96 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Wealthfront Advisers LLC bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,263 shares of the medical device company's stock, valued at approximately $1,955,000. Wealthfront Advisers LLC owned about 0.08% of Tandem Diabetes Care at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $29,000. AlphaQuest LLC grew its position in Tandem Diabetes Care by 138.7% in 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 grew its position in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $52,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TNDM shares. Citigroup cut shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.38.

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Tandem Diabetes Care Trading Up 2.8 %

Shares of NASDAQ:TNDM traded up $0.56 during mid-day trading on Wednesday, hitting $20.62. The stock had a trading volume of 1,348,426 shares, compared to its average volume of 1,478,094. 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 cap of $1.37 billion, a PE ratio of -10.68 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 12-month low of $17.64 and a 12-month high of $53.69. The company's 50 day moving average is $30.69 and its 200-day moving average is $34.21.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by 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.