Capital World Investors Trims Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Capital World Investors decreased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 76.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 767,000 shares of the medical device company's stock after selling 2,498,300 shares during the period. Capital World Investors owned about 1.17% of Tandem Diabetes Care worth $27,627,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC lifted its position 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 worth $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after acquiring an additional 748 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $52,000. Assetmark Inc. lifted its position in shares of Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after acquiring an additional 535 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock worth $65,000 after acquiring an additional 1,101 shares in the last quarter.

Tandem Diabetes Care Price Performance

TNDM traded up $0.39 during trading on Friday, reaching $18.06. The stock had a trading volume of 1,156,715 shares, compared to its average volume of 1,504,902. The stock has a market cap of $1.20 billion, a PE ratio of -9.36 and a beta of 1.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69. The business has a 50-day moving average of $20.17 and a 200-day moving average of $29.17.

Insider Transactions at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada decreased their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.81.

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.