Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Purchased by M&T Bank Corp

M&T Bank Corp increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,170 shares of the medical device company’s stock after purchasing an additional 6,335 shares during the period. M&T Bank Corp owned 0.09% of Tandem Diabetes Care worth $2,096,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $29,000. Jones Financial Companies Lllp lifted its stake 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. McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $52,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after acquiring an additional 1,101 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TNDM. Royal Bank of Canada reduced their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company 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 report on Monday, March 3rd. Robert W. Baird cut their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut 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 report on Monday, March 3rd. Finally, Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $17.96 on Monday. Tandem Diabetes Care, Inc. has a 12-month low of $17.92 and a 12-month high of $53.69. The stock has a market capitalization of $1.19 billion, a P/E ratio of -9.31 and a beta of 1.45. The firm’s 50-day moving average is $33.17 and its two-hundred day moving average is $35.46. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

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.