Truist Financial Corp Boosts Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Truist Financial Corp lifted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 119,561 shares of the medical device company’s stock after acquiring an additional 2,434 shares during the period. Truist Financial Corp’s holdings in Tandem Diabetes Care were worth $4,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $29,000. McIlrath & Eck LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $52,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Tandem Diabetes Care during the fourth quarter valued at approximately $92,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $105,000.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $31.00 on Monday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -16.06 and a beta of 1.32. The stock has a 50 day moving average price of $35.48 and a 200-day moving average price of $36.70. Tandem Diabetes Care, Inc. has a one year low of $24.42 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Wall Street Analyst Weigh In

A number of research firms recently commented on TNDM. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price on the stock. Barclays increased their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity Group reduced their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.81.

Tandem Diabetes Care 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.