Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Sells $300,000.00 in Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $30.81 on Friday. The company has a market capitalization of $2.02 billion, a P/E ratio of -15.96 and a beta of 1.36. The company’s 50-day moving average is $36.16 and its 200 day moving average is $41.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a fifty-two week low of $18.45 and a fifty-two week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) earnings per share. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

TNDM has been the subject of several research reports. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Barclays increased their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Institutional Trading of Tandem Diabetes Care

Several hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its stake in Tandem Diabetes Care by 125.8% in the 1st quarter. Sei Investments Co. now owns 17,349 shares of the medical device company’s stock valued at $614,000 after acquiring an additional 9,666 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tandem Diabetes Care in the 1st quarter worth approximately $540,000. Brown Capital Management LLC grew its stake in Tandem Diabetes Care by 29.9% in the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after buying an additional 219,940 shares in the last quarter. Finally, BOKF NA raised its holdings in Tandem Diabetes Care by 28.9% during the 1st quarter. BOKF NA now owns 23,817 shares of the medical device company’s stock valued at $806,000 after acquiring an additional 5,345 shares during the period.

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.