Legato Capital Management LLC Acquires 6,530 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Legato Capital Management LLC raised its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 47.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,335 shares of the medical device company’s stock after acquiring an additional 6,530 shares during the period. Legato Capital Management LLC’s holdings in Tandem Diabetes Care were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Tandem Diabetes Care during the third quarter valued at $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care during the third quarter valued at $29,000. Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the third quarter valued at $50,000. McIlrath & Eck LLC bought a new position in Tandem Diabetes Care during the third quarter valued at $52,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Tandem Diabetes Care during the fourth quarter valued at $92,000.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $32.61 on Friday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -16.90 and a beta of 1.32. The company’s 50 day moving average is $35.49 and its 200 day moving average is $37.01. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 52-week low of $22.03 and a 52-week high of $53.69.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Citigroup lowered their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Robert W. Baird lowered their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Barclays boosted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

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.