Teacher Retirement System of Texas Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Teacher Retirement System of Texas purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,570 shares of the medical device company’s stock, valued at approximately $993,000.

Other large investors have also made changes to their positions in the company. Bellevue Group AG raised its stake in Tandem Diabetes Care by 19.9% during 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 purchasing an additional 307,624 shares during the period. JPMorgan Chase & Co. grew its holdings in Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after buying an additional 113,355 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Tandem Diabetes Care by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after buying an additional 21,086 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after buying an additional 1,101 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Tandem Diabetes Care by 15.2% in 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.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TNDM shares. Royal Bank of Canada cut 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 note on Thursday, February 27th. Barclays reduced their target price 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. The Goldman Sachs Group cut their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their target price for the company from $35.00 to $25.00 in a report on Friday, February 28th. Eight 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Stock Down 2.7 %

Shares of NASDAQ TNDM opened at $19.28 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $17.64 and a 1 year high of $53.69. The firm has a 50-day simple moving average of $28.08 and a two-hundred day simple moving average of $33.04. The company has a market cap of $1.28 billion, a P/E ratio of -9.99 and a beta of 1.45. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care 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.