Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Kim D. Blickenstaff Sells 10,000 Shares

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $30.81 on Friday. 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 one year low of $18.45 and a one year high of $53.69. The company has a market cap of $2.02 billion, a PE ratio of -15.96 and a beta of 1.36. The business has a 50-day simple moving average of $36.16 and a 200-day simple moving average of $41.26.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its 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. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the prior year, the company posted ($0.38) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Vanguard Group Inc. raised its stake 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 worth $249,732,000 after acquiring an additional 30,664 shares in the last quarter. State Street Corp increased its position in shares of Tandem Diabetes Care by 3.2% during the third quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock worth $112,630,000 after purchasing an additional 83,172 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Tandem Diabetes Care by 45.2% in the 2nd 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 during the last quarter. Bellevue Group AG grew its stake in Tandem Diabetes Care by 2.0% during the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in 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.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group raised Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group decreased their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Canaccord Genuity Group assumed coverage on shares of 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 research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care 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.