Assetmark Inc. Acquires 535 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Assetmark Inc. raised its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 77.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,225 shares of the medical device company’s stock after purchasing an additional 535 shares during the period. Assetmark Inc.’s holdings in Tandem Diabetes Care were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Baillie Gifford & Co. raised its position in shares of Tandem Diabetes Care by 235.7% during the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after buying an additional 523,843 shares in the last quarter. GW&K Investment Management LLC lifted its position in Tandem Diabetes Care by 18.0% in the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after buying an additional 323,674 shares during the last quarter. Bellevue Group AG boosted its stake in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Tandem Diabetes Care by 22.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company’s stock valued at $56,040,000 after acquiring an additional 281,327 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tandem Diabetes Care by 397.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,614 shares of the medical device company’s stock worth $11,121,000 after acquiring an additional 240,966 shares in the last quarter.

Analyst Upgrades and Downgrades

TNDM has been the subject of several analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Royal Bank of Canada cut their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Citigroup lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Barclays reduced their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley cut Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Price Performance

TNDM stock opened at $19.17 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.93 and a beta of 1.45. The firm has a 50 day moving average price of $31.38 and a 200-day moving average price of $34.62. Tandem Diabetes Care, Inc. has a 52-week low of $17.64 and a 52-week high of $53.69.

Insider Buying and Selling at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

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.