PNC Financial Services Group Inc. Acquires 2,720 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

PNC Financial Services Group Inc. raised its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 13.9% in the 4th quarter, Holdings Channel reports. The firm owned 22,239 shares of the medical device company’s stock after purchasing an additional 2,720 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Tandem Diabetes Care were worth $801,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care during the 3rd quarter valued at about $28,000. Assetmark Inc. purchased a new position in shares of Tandem Diabetes Care during the third quarter worth approximately $29,000. Jones Financial Companies Lllp raised its stake in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $52,000. Finally, Smartleaf Asset Management LLC grew its stake in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after purchasing an additional 1,101 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TNDM shares. Barclays lowered their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

Insider Buying and Selling

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

Tandem Diabetes Care Trading Up 2.8 %

Shares of Tandem Diabetes Care stock opened at $19.71 on Tuesday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -10.21 and a beta of 1.45. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12-month low of $17.64 and a 12-month high of $53.69. The firm’s 50 day simple moving average is $31.03 and its two-hundred day simple moving average is $34.38.

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.