Avantax Advisory Services Inc. Reduces Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Avantax Advisory Services Inc. lowered its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,589 shares of the medical device company’s stock after selling 917 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Tandem Diabetes Care were worth $201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of Tandem Diabetes Care by 17.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,200 shares of the medical device company’s stock valued at $433,000 after purchasing an additional 1,525 shares during the period. Intech Investment Management LLC grew its position in Tandem Diabetes Care by 156.0% during the third quarter. Intech Investment Management LLC now owns 18,336 shares of the medical device company’s stock valued at $778,000 after buying an additional 11,173 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tandem Diabetes Care by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company’s stock valued at $24,855,000 after buying an additional 18,874 shares during the period. Cerity Partners LLC increased its holdings in Tandem Diabetes Care by 21.8% during the third quarter. Cerity Partners LLC now owns 62,796 shares of the medical device company’s stock valued at $2,663,000 after buying an additional 11,247 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Tandem Diabetes Care in the third quarter worth approximately $28,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Royal Bank of Canada cut their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $19.81 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -10.26 and a beta of 1.45. The firm has a fifty day moving average price of $28.40 and a 200 day moving average price of $33.25. Tandem Diabetes Care, Inc. has a fifty-two week low of $17.64 and a fifty-two week high of $53.69.

Insider Activity

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.20% of the company’s stock.

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.