Envestnet Asset Management Inc. Raises Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Envestnet Asset Management Inc. increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Rating) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,783 shares of the medical device company’s stock after purchasing an additional 6,722 shares during the period. Envestnet Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CI Investments Inc. grew its holdings in Tandem Diabetes Care by 10,566.7% in the first quarter. CI Investments Inc. now owns 320 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 317 shares during the period. Sandy Cove Advisors LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at $46,000. Stephens Inc. AR increased its holdings in Tandem Diabetes Care by 286.3% in the 1st quarter. Stephens Inc. AR now owns 931 shares of the medical device company’s stock worth $108,000 after acquiring an additional 690 shares in the last quarter. CWM LLC raised its position in Tandem Diabetes Care by 88.2% during the second quarter. CWM LLC now owns 1,041 shares of the medical device company’s stock worth $62,000 after acquiring an additional 488 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in Tandem Diabetes Care by 134.6% during the first quarter. Banque Cantonale Vaudoise now owns 1,506 shares of the medical device company’s stock valued at $175,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Tandem Diabetes Care Stock Down 0.3 %

Tandem Diabetes Care stock opened at $38.60 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.20 and a current ratio of 4.81. The firm has a 50 day moving average price of $48.95 and a 200 day moving average price of $56.02. Tandem Diabetes Care, Inc. has a fifty-two week low of $33.51 and a fifty-two week high of $155.86. The company has a market capitalization of $2.48 billion, a PE ratio of -36.07 and a beta of 0.99.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cowen reduced their price target on shares of Tandem Diabetes Care from $107.00 to $61.00 in a research report on Thursday, November 3rd. Jefferies Financial Group assumed coverage on Tandem Diabetes Care in a research note on Wednesday, October 12th. They issued a “buy” rating and a $75.00 price objective for the company. Cowen lowered their target price on shares of Tandem Diabetes Care from $107.00 to $61.00 in a research note on Thursday, November 3rd. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “underweight” rating to an “equal weight” rating and set a $43.00 price objective for the company in a research note on Tuesday, November 15th. Finally, Raymond James decreased their target price on shares of Tandem Diabetes Care from $92.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and an average price target of $76.93.

About Tandem Diabetes Care

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Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

Further Reading

Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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