Wasatch Advisors Inc. reduced its position in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 91.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,567 shares of the medical device company’s stock after selling 2,863,016 shares during the period. Wasatch Advisors Inc. owned about 2.75% of Tandem Diabetes Care worth $657,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after buying an additional 32,991 shares in the last quarter. Russell Investments Group Ltd. increased its position in Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after buying an additional 78,748 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after buying an additional 88,709 shares in the last quarter.
Shares of Tandem Diabetes Care Inc (NASDAQ TNDM) opened at $2.91 on Friday. Tandem Diabetes Care Inc has a fifty-two week low of $2.15 and a fifty-two week high of $30.00. The company has a current ratio of 1.90, a quick ratio of 0.88 and a debt-to-equity ratio of -2.70. The stock has a market capitalization of $29.14, a price-to-earnings ratio of -0.15 and a beta of 0.17.
TNDM has been the subject of several recent research reports. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research report on Wednesday, November 1st. Piper Jaffray Companies reissued a “hold” rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Wedbush reissued an “outperform” rating and set a $17.00 price target (down previously from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Finally, Robert W. Baird reissued a “hold” rating and set a $3.00 price target on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Tandem Diabetes Care presently has an average rating of “Hold” and an average price target of $11.29.
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Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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