Joel Isaacson & Co. LLC bought a new stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the third quarter, Holdings Channel reports. The institutional investor bought 7,000 shares of the medical device company’s stock, valued at approximately $300,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Tandem Diabetes Care in the third quarter worth $203,000. Legal & General Group Plc acquired a new position in shares of Tandem Diabetes Care in the second quarter worth $147,000. Spark Investment Management LLC grew its stake in shares of Tandem Diabetes Care by 7.0% in the second quarter. Spark Investment Management LLC now owns 122,300 shares of the medical device company’s stock worth $2,693,000 after acquiring an additional 8,000 shares in the last quarter. California Public Employees Retirement System acquired a new position in shares of Tandem Diabetes Care in the second quarter worth $249,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Tandem Diabetes Care in the second quarter worth $300,000. 62.89% of the stock is currently owned by institutional investors.
Shares of TNDM stock traded down $2.47 on Friday, reaching $36.12. 1,941,400 shares of the stock were exchanged, compared to its average volume of 2,489,668. The company has a current ratio of 3.02, a quick ratio of 2.43 and a debt-to-equity ratio of 2.97. The company has a market cap of $2.14 billion, a P/E ratio of -2.81 and a beta of 0.36. Tandem Diabetes Care Inc has a twelve month low of $2.14 and a twelve month high of $52.55.
In other news, Director Richard P. Valencia bought 1,754 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average price of $28.50 per share, for a total transaction of $49,989.00. Following the completion of the purchase, the director now owns 1,754 shares in the company, valued at approximately $49,989. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.30% of the company’s stock.
Several equities analysts have commented on TNDM shares. BidaskClub upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 23rd. MED boosted their price target on shares of Tandem Diabetes Care from $38.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Robert W. Baird downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “neutral” rating in a research note on Friday, September 14th. ValuEngine upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. Finally, Lake Street Capital boosted their target price on shares of Tandem Diabetes Care from $35.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.73.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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