Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 22.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,560 shares of the medical device company’s stock after acquiring an additional 1,184 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tandem Diabetes Care were worth $236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Tandem Diabetes Care by 235.7% in the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after purchasing an additional 523,843 shares during the period. GW&K Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after buying an additional 323,674 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after buying an additional 307,624 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Tandem Diabetes Care by 22.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company’s stock valued at $56,040,000 after buying an additional 281,327 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tandem Diabetes Care by 89.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,062 shares of the medical device company’s stock valued at $18,553,000 after buying an additional 242,965 shares in the last quarter.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $19.28 on Friday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -9.99 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 12-month low of $17.64 and a 12-month high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm’s 50-day moving average is $28.08 and its two-hundred day moving average is $33.09.

Analyst Upgrades and Downgrades

TNDM has been the subject of several research analyst reports. Morgan Stanley cut Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Barclays reduced their price objective on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup cut Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Insider Activity

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The shares were acquired 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 owns 10,538 shares of the company’s stock, valued at $190,948.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

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.