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 company’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 transaction, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Tandem Diabetes Care Price Performance

TNDM opened at $30.81 on Monday. Tandem Diabetes Care, Inc. has a one year low of $18.45 and a one year high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average price is $36.16 and its 200 day moving average price is $41.24.

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

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. increased its holdings 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 purchasing an additional 9,666 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 30,664 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tandem Diabetes Care in the 1st quarter valued at about $540,000. Brown Capital Management LLC increased its stake in Tandem Diabetes Care by 29.9% during the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after purchasing an additional 219,940 shares during the period. Finally, BOKF NA lifted its position in shares of Tandem Diabetes Care by 28.9% during the first quarter. BOKF NA now owns 23,817 shares of the medical device company’s stock worth $806,000 after purchasing an additional 5,345 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Piper Sandler reissued 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. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Company 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.