Cibc World Markets Corp Invests $221,000 in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Cibc World Markets Corp acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, Holdings Channel reports. The firm acquired 6,145 shares of the medical device company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNDM. Advisors Asset Management Inc. increased its position in shares of Tandem Diabetes Care by 17.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,200 shares of the medical device company’s stock valued at $433,000 after purchasing an additional 1,525 shares during the period. Intech Investment Management LLC grew its holdings in Tandem Diabetes Care by 156.0% during the third quarter. Intech Investment Management LLC now owns 18,336 shares of the medical device company’s stock worth $778,000 after acquiring an additional 11,173 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tandem Diabetes Care by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company’s stock valued at $24,855,000 after acquiring an additional 18,874 shares during the last quarter. Cerity Partners LLC lifted its holdings in Tandem Diabetes Care by 21.8% in the 3rd quarter. Cerity Partners LLC now owns 62,796 shares of the medical device company’s stock valued at $2,663,000 after acquiring an additional 11,247 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at about $28,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley downgraded shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price objective 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Barclays reduced their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Royal Bank of Canada cut their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Eight research 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, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Trading Down 2.8 %

Shares of NASDAQ:TNDM opened at $19.66 on Thursday. The firm has a fifty day moving average of $28.75 and a two-hundred day moving average of $33.34. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12-month low of $17.64 and a 12-month high of $53.69. The firm has a market capitalization of $1.31 billion, a P/E ratio of -10.19 and a beta of 1.45.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

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.