Oppenheimer & Co. Inc. lessened its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 73.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,922 shares of the medical device company's stock after selling 19,203 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Tandem Diabetes Care were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $29,000. McIlrath & Eck LLC bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $52,000. Venturi Wealth Management LLC grew its stake in shares of Tandem Diabetes Care by 5,955.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock valued at $74,000 after purchasing an additional 2,025 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $105,000.
TNDM has been the topic of a number of research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Citigroup lowered Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their price target for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Barclays cut their price objective on 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, Royal Bank of Canada dropped 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. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and a consensus price target of $45.38.
Read Our Latest Analysis on TNDM
Shares of Tandem Diabetes Care stock traded down $0.76 during trading hours on Friday, hitting $17.96. 2,019,213 shares of the company's stock traded hands, compared to its average volume of 1,466,490. The stock has a 50 day simple moving average of $33.17 and a 200-day simple moving average of $35.51. 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 company has a market cap of $1.19 billion, a PE ratio of -9.31 and a beta of 1.45. Tandem Diabetes Care, Inc. has a twelve month low of $17.92 and a twelve month high of $53.69.
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.
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