Silvercrest Asset Management Group LLC Increases Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Silvercrest Asset Management Group LLC raised its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,565 shares of the medical device company's stock after purchasing an additional 78,347 shares during the period. Silvercrest Asset Management Group LLC owned 0.53% of Tandem Diabetes Care worth $12,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in shares of Tandem Diabetes Care during the fourth quarter valued at approximately $46,035,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after acquiring an additional 1,086,337 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Tandem Diabetes Care in the fourth quarter valued at $32,889,000. Park West Asset Management LLC grew its holdings in Tandem Diabetes Care by 49.5% during the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company's stock worth $57,632,000 after acquiring an additional 530,000 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of Tandem Diabetes Care by 235.7% during the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company's stock worth $26,875,000 after acquiring an additional 523,843 shares in the last quarter.

Insider Activity

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Canaccord Genuity Group boosted their price objective on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Royal Bank of Canada reduced their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Eight 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 an average rating of "Moderate Buy" and an average price target of $39.81.

Tandem Diabetes Care Trading Down 8.0%

Shares of TNDM traded down $1.87 on Wednesday, hitting $21.65. 1,352,285 shares of the stock traded hands, compared to its average volume of 1,490,065. Tandem Diabetes Care, Inc. has a 1 year low of $15.75 and a 1 year high of $53.69. The stock's 50 day moving average is $19.36 and its two-hundred day moving average is $27.68. The firm has a market capitalization of $1.44 billion, a P/E ratio of -11.22 and a beta of 1.47. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the previous year, the company posted ($0.65) earnings per share. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

About Tandem Diabetes Care

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.