Wealthfront Advisers LLC Buys Shares of 54,263 Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Wealthfront Advisers LLC bought a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,263 shares of the medical device company’s stock, valued at approximately $1,955,000. Wealthfront Advisers LLC owned approximately 0.08% of Tandem Diabetes Care as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TNDM. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $29,000. Crossmark Global Holdings Inc. bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $200,000. State of New Jersey Common Pension Fund D raised its position in shares of Tandem Diabetes Care by 24.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,776 shares of the medical device company’s stock worth $1,899,000 after acquiring an additional 8,837 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $263,000. Finally, Victory Capital Management Inc. grew its stake in Tandem Diabetes Care by 45.6% during the 3rd quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company’s stock worth $24,905,000 after buying an additional 183,877 shares during the last quarter.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several research analyst reports. Barclays dropped 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. Morgan Stanley downgraded 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. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. The Goldman Sachs Group dropped their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Robert W. Baird dropped their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Up 5.4 %

Shares of TNDM opened at $19.17 on Friday. Tandem Diabetes Care, Inc. has a 52 week low of $17.64 and a 52 week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.93 and a beta of 1.45. The stock’s 50-day moving average price is $31.38 and its 200-day moving average price is $34.69.

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.