Jump Financial LLC Acquires New Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Jump Financial LLC bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 37,710 shares of the medical device company’s stock, valued at approximately $1,358,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after buying an additional 113,355 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after purchasing an additional 1,101 shares in the last quarter. US Bancorp DE increased its holdings in Tandem Diabetes Care by 15.2% during the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock valued at $1,394,000 after buying an additional 5,108 shares during the period. KBC Group NV boosted its stake in Tandem Diabetes Care by 41.5% in the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock valued at $6,933,000 after acquiring an additional 56,461 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock valued at $236,000 after purchasing an additional 1,184 shares during the last quarter.

Tandem Diabetes Care Trading Down 2.3 %

NASDAQ TNDM opened at $16.86 on Friday. The firm has a 50 day moving average of $21.77 and a two-hundred day moving average of $30.04. 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 $15.75 and a 52 week high of $53.69. The stock has a market capitalization of $1.12 billion, a PE ratio of -8.74 and a beta of 1.52.

Analyst Ratings Changes

TNDM has been the topic of a number of research reports. Barclays cut their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada cut their price objective on shares of 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. The Goldman Sachs Group decreased their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Citigroup cut Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Morgan Stanley lowered shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.88.

Insider Buying and Selling

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction dated 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 purchase, the chief operating officer now 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.