Tandem Diabetes Care (NASDAQ:TNDM) Trading Up 6.1% Following Insider Buying Activity

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares traded up 6.1% during trading on Wednesday following insider buying activity. The stock traded as high as $18.92 and last traded at $18.98. 283,146 shares changed hands during mid-day 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 stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Barclays decreased their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. 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 report on Friday, February 28th. Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada decreased 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 report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.38.

Tandem Diabetes Care Trading Up 4.9 %

The stock has a market capitalization of $1.25 billion, a PE ratio of -9.73 and a beta of 1.45. The firm has a 50-day moving average price of $32.09 and a 200-day moving average price of $34.98. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the company. Bellevue Group AG increased its holdings in 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 worth $78,496,000 after acquiring an additional 307,624 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Tandem Diabetes Care by 134.6% in the 3rd 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. MetLife Investment Management LLC lifted its position in Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after buying an additional 21,086 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Tandem Diabetes Care by 368.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock worth $1,108,000 after purchasing an additional 20,549 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Tandem Diabetes Care by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after purchasing an additional 66,687 shares during the period.

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.