By otakuyassine3@gmail.com 
Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report)’s stock price shot up 6.1% on Wednesday following insider buying activity. The company traded as high as $18.92 and last traded at $18.98. 283,146 shares were traded during trading, a decline of 82% from the average session volume of 1,558,233 shares. The stock had previously closed at $17.89.
Specifically, COO Jean-Claude Kyrillos acquired 10,538 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Analysts Set New Price Targets
Several equities analysts recently weighed in on TNDM shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Citigroup lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Morgan Stanley downgraded shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Finally, Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.
Get Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Trading Down 3.1 %
The company has a market cap of $1.21 billion, a P/E ratio of -9.42 and a beta of 1.45. The business has a fifty day simple moving average of $31.74 and a 200 day simple moving average of $34.87. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.
Institutional Investors Weigh In On Tandem Diabetes Care
Several institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care during the third quarter valued at $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $29,000. AlphaQuest LLC grew its holdings in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares during the period. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at approximately $52,000.
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.
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