Oppenheimer Asset Management Inc. Acquires 2,612 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Oppenheimer Asset Management Inc. raised its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.4% in the 4th quarter, Holdings Channel reports. The firm owned 61,704 shares of the medical device company’s stock after purchasing an additional 2,612 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $2,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Tandem Diabetes Care by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 436,692 shares of the medical device company’s stock worth $15,730,000 after purchasing an additional 4,130 shares during the last quarter. RWC Asset Management LLP bought a new stake in shares of Tandem Diabetes Care during the fourth quarter worth $221,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Tandem Diabetes Care during the fourth quarter valued at $510,000. Arcadia Investment Management Corp MI purchased a new position in shares of Tandem Diabetes Care during the fourth quarter valued at $129,000. Finally, Private Advisor Group LLC increased its stake in shares of Tandem Diabetes Care by 18.1% during the fourth quarter. Private Advisor Group LLC now owns 6,135 shares of the medical device company’s stock valued at $221,000 after buying an additional 939 shares during the period.

Tandem Diabetes Care Trading Up 1.8 %

Tandem Diabetes Care stock opened at $22.14 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. Tandem Diabetes Care, Inc. has a 52 week low of $20.36 and a 52 week high of $53.69. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.47 and a beta of 1.32. The stock has a 50-day moving average price of $34.95 and a 200 day moving average price of $36.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TNDM. Robert W. Baird cut their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Citigroup cut their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Barclays cut their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

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.