Wells Fargo & Company MN Increases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Wells Fargo & Company MN increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 35.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,255 shares of the medical device company's stock after acquiring an additional 16,163 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Tandem Diabetes Care worth $2,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC boosted its stake 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 in the last quarter. Jones Financial Companies Lllp raised its holdings 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 buying an additional 748 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after buying an additional 535 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $52,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM traded down $0.70 during trading hours on Tuesday, hitting $16.77. 1,916,818 shares of the stock traded hands, compared to its average volume of 1,505,092. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -8.69 and a beta of 1.52. Tandem Diabetes Care, Inc. has a 1 year low of $15.75 and a 1 year high of $53.69. The stock has a 50 day moving average price of $19.89 and a 200 day moving average price of $29.03. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Insider Activity

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

TNDM has been the topic of several analyst reports. 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. Royal Bank of Canada lowered their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reiterated 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. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Finally, Citigroup cut Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and an average price target of $43.81.

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.