Canada Pension Plan Investment Board Acquires 15,100 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Canada Pension Plan Investment Board raised its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 838.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,900 shares of the medical device company's stock after buying an additional 15,100 shares during the quarter. Canada Pension Plan Investment Board's holdings in Tandem Diabetes Care were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock valued at $8,379,000 after acquiring an additional 113,355 shares during the period. Smartleaf Asset Management LLC increased its stake in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after purchasing an additional 1,101 shares in the last quarter. US Bancorp DE increased its stake in 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 valued at $1,394,000 after purchasing an additional 5,108 shares in the last quarter. KBC Group NV raised its holdings in Tandem Diabetes Care by 41.5% in the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company's stock worth $6,933,000 after purchasing an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock worth $236,000 after purchasing an additional 1,184 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on TNDM shares. Citigroup downgraded Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $35.00 to $24.00 in a research note on Tuesday, March 4th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. 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. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.81.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded up $0.08 during trading on Wednesday, reaching $16.85. 1,710,739 shares of the company's stock were exchanged, compared to its average volume of 1,506,116. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The business has a 50 day moving average price of $19.30 and a 200-day moving average price of $28.87. The stock has a market capitalization of $1.12 billion, a P/E ratio of -8.73 and a beta of 1.52. Tandem Diabetes Care, Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $53.69.

Insider Transactions at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently 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.