Raymond James Financial Inc. Invests $5.89 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James Financial Inc. acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the fourth quarter, Holdings Channel.com reports. The firm acquired 163,614 shares of the medical device company’s stock, valued at approximately $5,893,000.

Other hedge funds have also made changes to their positions in the company. Bellevue Group AG raised 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 valued at $78,496,000 after acquiring an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 valued at $8,379,000 after purchasing an additional 113,355 shares during the period. MetLife Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 129.1% in the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after purchasing an additional 21,086 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after purchasing an additional 1,101 shares during the period. Finally, US Bancorp DE boosted its stake in Tandem Diabetes Care by 15.2% during the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock worth $1,394,000 after buying an additional 5,108 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective 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. Robert W. Baird dropped 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 research report on Thursday, February 27th. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Barclays lowered their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group cut their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care has an average rating of “Moderate Buy” and an average target price of $45.38.

Insider Buying and Selling

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 purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $20.62 on Tuesday. Tandem Diabetes Care, Inc. has a 52 week low of $17.64 and a 52 week high of $53.69. The stock has a market capitalization of $1.37 billion, a PE ratio of -10.68 and a beta of 1.45. 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 stock’s fifty day moving average is $29.39 and its 200-day moving average is $33.60.

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.