Swiss National Bank Boosts Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Swiss National Bank lifted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 128,700 shares of the medical device company’s stock after purchasing an additional 2,500 shares during the period. Swiss National Bank’s holdings in Tandem Diabetes Care were worth $4,636,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock worth $683,000 after acquiring an additional 362 shares during the period. Assetmark Inc. increased its holdings 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 purchasing an additional 535 shares during the period. AlphaQuest LLC raised its position in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after buying an additional 541 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tandem Diabetes Care by 4.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock valued at $664,000 after buying an additional 704 shares during the period.

Insider Activity 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 shares were bought at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $20.62 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a fifty-two week low of $17.64 and a fifty-two week high of $53.69. The firm has a market cap of $1.37 billion, a PE ratio of -10.68 and a beta of 1.45. The business has a 50 day moving average price of $29.39 and a 200-day moving average price of $33.60.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird decreased 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Citigroup lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

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.