Renaissance Technologies LLC Buys 105,300 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Renaissance Technologies LLC raised its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,727 shares of the medical device company’s stock after purchasing an additional 105,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Tandem Diabetes Care worth $11,372,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TNDM. JPMorgan Chase & Co. increased its holdings in Tandem Diabetes Care by 134.6% during the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after buying an additional 113,355 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 valued at $65,000 after purchasing an additional 1,101 shares during the period. US Bancorp DE raised its holdings in shares of Tandem Diabetes Care by 15.2% in the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock valued at $1,394,000 after purchasing an additional 5,108 shares during the period. KBC Group NV grew its holdings in Tandem Diabetes Care by 41.5% during the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock worth $6,933,000 after purchasing an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after purchasing an additional 1,184 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $35.00 to $25.00 in a report on Friday, February 28th. Barclays lowered their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Mizuho assumed coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target 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. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.88.

Tandem Diabetes Care Trading Up 4.0 %

Shares of TNDM opened at $17.71 on Wednesday. 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 52-week low of $15.75 and a 52-week high of $53.69. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -9.18 and a beta of 1.52. The business’s fifty day moving average is $22.85 and its 200-day moving average is $30.55.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

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.