New York State Common Retirement Fund lessened its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) by 5.6% during the third quarter, HoldingsChannel reports. The fund owned 316,186 shares of the medical device company’s stock after selling 18,839 shares during the quarter. New York State Common Retirement Fund’s holdings in Tandem Diabetes Care were worth $6,567,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming grew its position in Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after purchasing an additional 258 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Tandem Diabetes Care by 17.6% during the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after purchasing an additional 317 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth approximately $89,000. Newbridge Financial Services Group Inc. lifted its stake in Tandem Diabetes Care by 76.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 6,025 shares of the medical device company’s stock valued at $125,000 after purchasing an additional 2,615 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Tandem Diabetes Care by 26.2% during the second quarter. Van ECK Associates Corp now owns 5,153 shares of the medical device company’s stock valued at $126,000 after purchasing an additional 1,069 shares during the period.
Analyst Upgrades and Downgrades
TNDM has been the topic of a number of recent research reports. Leerink Partnrs reaffirmed a “market perform” rating on shares of Tandem Diabetes Care in a research report on Monday, October 16th. Piper Sandler lowered their price target on shares of Tandem Diabetes Care from $40.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. SVB Leerink assumed coverage on shares of Tandem Diabetes Care in a report on Monday, October 16th. They issued a “market perform” rating and a $21.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Tandem Diabetes Care from $17.00 to $24.00 and gave the company a “hold” rating in a report on Monday, February 5th. Finally, StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.36.
Insider Buying and Selling
In other news, Director Dick Allen purchased 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was purchased at an average price of $18.96 per share, with a total value of $94,800.00. Following the completion of the purchase, the director now directly owns 19,962 shares in the company, valued at approximately $378,479.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.
Tandem Diabetes Care Price Performance
TNDM stock opened at $23.30 on Friday. The firm has a 50 day simple moving average of $25.71 and a two-hundred day simple moving average of $23.77. The stock has a market cap of $1.52 billion, a PE ratio of -7.21 and a beta of 1.11. Tandem Diabetes Care, Inc. has a one year low of $13.82 and a one year high of $44.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.05 and a quick ratio of 3.28.
Tandem Diabetes Care Company Profile
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.
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