Next Century Growth Investors LLC Lowers Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Next Century Growth Investors LLC reduced its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 79.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,839 shares of the medical device company's stock after selling 780,843 shares during the period. Next Century Growth Investors LLC owned approximately 0.31% of Tandem Diabetes Care worth $7,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TNDM. Captrust Financial Advisors raised its holdings in shares of Tandem Diabetes Care by 19.3% in the 3rd quarter. Captrust Financial Advisors now owns 10,170 shares of the medical device company's stock valued at $431,000 after acquiring an additional 1,647 shares in the last quarter. Quantinno Capital Management LP raised its stake in Tandem Diabetes Care by 43.1% in the third quarter. Quantinno Capital Management LP now owns 31,145 shares of the medical device company's stock valued at $1,321,000 after purchasing an additional 9,385 shares in the last quarter. Stifel Financial Corp lifted its position in Tandem Diabetes Care by 6.8% during the third quarter. Stifel Financial Corp now owns 34,072 shares of the medical device company's stock valued at $1,445,000 after purchasing an additional 2,160 shares during the last quarter. State Street Corp grew its stake in Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company's stock worth $112,630,000 after buying an additional 83,172 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Tandem Diabetes Care by 1.7% in the 3rd quarter. M&T Bank Corp now owns 51,835 shares of the medical device company's stock worth $2,199,000 after buying an additional 858 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Barclays decreased their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Mizuho began coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Finally, Royal Bank of Canada reduced their price target 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. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Moderate Buy" and an average target price of $43.88.

Insider Activity

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the acquisition, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at approximately $190,948.56. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM traded down $0.29 during mid-day trading on Thursday, reaching $16.97. The company's stock had a trading volume of 510,652 shares, compared to its average volume of 1,497,960. The firm's fifty day moving average price is $22.47 and its two-hundred day moving average price is $30.46. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market cap of $1.13 billion, a P/E ratio of -8.81 and a beta of 1.52. Tandem Diabetes Care, Inc. has a 12-month low of $15.75 and a 12-month high of $53.69.

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.