Next Century Growth Investors LLC Sells 780,843 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Next Century Growth Investors LLC lessened its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 79.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,839 shares of the medical device company’s stock after selling 780,843 shares during the quarter. Next Century Growth Investors LLC owned 0.31% of Tandem Diabetes Care worth $7,270,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. AlphaQuest LLC grew its holdings in 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 buying an additional 541 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 valued at $41,000 after purchasing an additional 748 shares during the last quarter. 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 valued at $44,000 after purchasing an additional 535 shares in the last quarter. McIlrath & Eck LLC purchased a new position in Tandem Diabetes Care during the third quarter worth about $52,000. Finally, Smartleaf Asset Management LLC increased its stake in Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after buying an additional 1,101 shares during the last quarter.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $17.06 on Friday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -8.84 and a beta of 1.52. 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 business has a 50-day simple moving average of $23.62 and a 200 day simple moving average of $30.91. Tandem Diabetes Care, Inc. has a 52 week low of $15.75 and a 52 week high of $53.69.

Insider Transactions at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Royal Bank of Canada lowered their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company restated an “equal weight” rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Finally, Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday. They issued a “neutral” rating and a $20.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

Tandem Diabetes Care Company 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.