Perceptive Advisors LLC Has $18.48 Million Stock Position in Tandem Diabetes Care Inc (NASDAQ:TNDM)
Perceptive Advisors LLC boosted its stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 4,727.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,000 shares of the medical device company’s stock after acquiring an additional 303,578 shares during the period. Perceptive Advisors LLC owned 0.52% of Tandem Diabetes Care worth $18,479,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of Tandem Diabetes Care by 393.5% in the 4th quarter. CWM LLC now owns 528 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 421 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $45,000. Sowell Financial Services LLC acquired a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $54,000. US Bancorp DE boosted its holdings in shares of Tandem Diabetes Care by 101.0% during the 4th quarter. US Bancorp DE now owns 1,164 shares of the medical device company’s stock worth $70,000 after buying an additional 585 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth approximately $141,000. 90.92% of the stock is owned by institutional investors and hedge funds.
Shares of TNDM traded up $7.66 during trading hours on Thursday, reaching $65.16. The stock had a trading volume of 1,947,177 shares, compared to its average volume of 1,613,823. Tandem Diabetes Care Inc has a 12 month low of $43.69 and a 12 month high of $91.65. The firm has a 50-day simple moving average of $72.09 and a 200 day simple moving average of $65.59. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -135.75 and a beta of 0.20.
In related news, EVP David B. Berger sold 8,000 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $67.83, for a total transaction of $542,640.00. Following the completion of the sale, the executive vice president now owns 11,311 shares in the company, valued at $767,225.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dick Allen sold 2,979 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $78.82, for a total value of $234,804.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,295 shares of company stock valued at $7,745,966. Company insiders own 6.90% of the company’s stock.
Several research firms have recently weighed in on TNDM. Guggenheim lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating in a research note on Monday. Piper Sandler increased their target price on shares of Tandem Diabetes Care from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Oppenheimer increased their target price on shares of Tandem Diabetes Care from to in a research note on Tuesday, February 25th. Cowen restated an “outperform” rating and issued a $90.00 price target (up from $85.00) on shares of Tandem Diabetes Care in a report on Tuesday, February 25th. Finally, Stifel Nicolaus lifted their price target on shares of Tandem Diabetes Care from $70.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $84.67.
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.
Recommended Story: What are gap-up stocks?
Receive News & Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related companies with MarketBeat.com's FREE daily email newsletter.