Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 12.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 58,170 shares of the medical device company’s stock after purchasing an additional 6,335 shares during the quarter. M&T Bank Corp’s holdings in Tandem Diabetes Care were worth $2,096,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth approximately $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth approximately $29,000. Jones Financial Companies Lllp boosted its position in shares of Tandem Diabetes Care by 195.8% in 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 during the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth approximately $52,000. Finally, Smartleaf Asset Management LLC boosted its position 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 worth $65,000 after acquiring an additional 1,101 shares during the last quarter.

Tandem Diabetes Care Trading Down 4.1 %

TNDM opened at $17.96 on Monday. 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 firm’s 50 day moving average is $33.17 and its 200-day moving average is $35.46. The firm has a market capitalization of $1.19 billion, a P/E ratio of -9.31 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 52-week low of $17.92 and a 52-week high of $53.69.

Analyst Upgrades and Downgrades

TNDM has been the topic of several research analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Robert W. Baird reduced their price target on shares of 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. Barclays reduced 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 report on Friday, February 28th. Finally, The Goldman Sachs Group reduced 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 research report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.38.

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.