Insider Selling: Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Sells 10,000 Shares of Stock

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

Tandem Diabetes Care Trading Up 0.2 %

TNDM stock opened at $30.81 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The business has a fifty day moving average price of $36.16 and a 200 day moving average price of $41.26. Tandem Diabetes Care, Inc. has a fifty-two week low of $18.45 and a fifty-two week high of $53.69. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -15.96 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly 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 business had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the company posted ($0.38) EPS. Analysts expect that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Analyst Ratings Changes

TNDM has been the topic of several research reports. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target on the stock. Canaccord Genuity Group decreased their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays lifted 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. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 0.4% in the first 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 during the period. State Street Corp raised its stake in shares of Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after purchasing an additional 83,172 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after purchasing an additional 39,571 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Tandem Diabetes Care by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock worth $64,722,000 after buying an additional 18,187 shares during the period.

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.