PNC Financial Services Group Inc. Purchases 2,720 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

PNC Financial Services Group Inc. boosted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 13.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,239 shares of the medical device company’s stock after purchasing an additional 2,720 shares during the period. PNC Financial Services Group Inc.’s holdings in Tandem Diabetes Care were worth $801,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TNDM. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $29,000. Crossmark Global Holdings Inc. purchased a new stake in Tandem Diabetes Care in the third quarter worth about $200,000. State of New Jersey Common Pension Fund D increased its position in Tandem Diabetes Care by 24.6% in the third 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 buying 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 third quarter worth about $263,000. Finally, Victory Capital Management Inc. lifted its position in shares of 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 valued at $24,905,000 after buying an additional 183,877 shares in the last quarter.

Tandem Diabetes Care Trading Up 2.8 %

TNDM opened at $19.71 on Tuesday. The stock has a 50-day moving average of $31.03 and a 200 day moving average of $34.38. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12 month low of $17.64 and a 12 month high of $53.69. The firm has a market cap of $1.31 billion, a P/E ratio of -10.21 and a beta of 1.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TNDM shares. The Goldman Sachs Group decreased their target price on shares of 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. Robert W. Baird lowered their target price on shares of 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Finally, Barclays cut their target price on 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. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.38.

Insider Transactions at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

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.