Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 178,706 shares of the medical device company’s stock after selling 4,842 shares during the period. Rhumbline Advisers’ holdings in Tandem Diabetes Care were worth $6,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Tandem Diabetes Care by 8.0% in the 3rd quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock valued at $4,428,000 after acquiring an additional 7,747 shares in the last quarter. Private Advisor Group LLC purchased a new position in Tandem Diabetes Care during the 3rd quarter worth approximately $220,000. International Assets Investment Management LLC raised its stake in Tandem Diabetes Care by 4,141.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock valued at $297,000 after purchasing an additional 6,833 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tandem Diabetes Care by 54.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock valued at $2,575,000 after purchasing an additional 21,282 shares in the last quarter. Finally, abrdn plc acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth $6,126,000.

Analysts Set New Price Targets

TNDM has been the topic of a number of research reports. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Robert W. Baird lowered their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Citigroup cut 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 report on Wednesday, December 11th. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $33.59 on Thursday. The business has a fifty day simple moving average of $35.44 and a 200 day simple moving average of $36.64. The company has a market cap of $2.21 billion, a P/E ratio of -17.40 and a beta of 1.32. 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 twelve month low of $25.78 and a twelve month high of $53.69.

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.