Renaissance Technologies LLC Purchases 105,300 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Renaissance Technologies LLC lifted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 50.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,727 shares of the medical device company’s stock after purchasing an additional 105,300 shares during the period. Renaissance Technologies LLC’s holdings in Tandem Diabetes Care were worth $11,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in 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 during the last quarter. GW&K Investment Management LLC increased its holdings in Tandem Diabetes Care by 18.0% in the fourth quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock valued at $76,488,000 after purchasing an additional 323,674 shares during the period. Stephens Investment Management Group LLC raised its position in Tandem Diabetes Care by 22.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company’s stock worth $56,040,000 after purchasing an additional 281,327 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tandem Diabetes Care by 89.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,062 shares of the medical device company’s stock worth $18,553,000 after buying an additional 242,965 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tandem Diabetes Care by 397.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,614 shares of the medical device company’s stock valued at $11,121,000 after buying an additional 240,966 shares during the last quarter.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Trading Up 4.0 %

NASDAQ TNDM opened at $17.71 on Wednesday. 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, Inc. has a 52 week low of $15.75 and a 52 week high of $53.69. The business has a 50 day moving average price of $22.85 and a 200-day moving average price of $30.55. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -9.18 and a beta of 1.52.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TNDM. Citigroup downgraded Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Robert W. Baird lowered their price target 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. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Mizuho began coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

Tandem Diabetes Care 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.