Hood River Capital Management LLC Takes Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Hood River Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,278,047 shares of the medical device company's stock, valued at approximately $46,035,000. Hood River Capital Management LLC owned approximately 1.95% of Tandem Diabetes Care at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its stake in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp raised its position in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after purchasing an additional 748 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $52,000. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after buying an additional 535 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 1,101 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM traded down $0.74 during midday trading on Monday, reaching $17.32. The company's stock had a trading volume of 453,753 shares, compared to its average volume of 1,500,825. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average of $20.17 and a 200 day moving average of $29.17. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69. The firm has a market capitalization of $1.15 billion, a PE ratio of -8.98 and a beta of 1.52.

Analyst Upgrades and Downgrades

TNDM has been the subject of several research reports. Wells Fargo & Company reaffirmed an "equal weight" rating and issued 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 dropped their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Mizuho assumed coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price target for the company. The Goldman Sachs Group dropped their price objective on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, Robert W. Baird reduced their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of "Moderate Buy" and a consensus target price of $43.81.

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.