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 Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded up $0.07 during trading hours on Friday, hitting $30.81. 1,227,984 shares of the company’s stock traded hands, compared to its average volume of 1,606,265. Tandem Diabetes Care, Inc. has a 52 week low of $18.45 and a 52 week high of $53.69. The business’s fifty day moving average price is $36.42 and its two-hundred day moving average price is $41.35. 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 firm has a market capitalization of $2.02 billion, a P/E ratio of -15.93 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data 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 during 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 business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) earnings per share. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TNDM shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Sanford C. Bernstein began 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. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Canaccord Genuity Group reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.25.

Institutional Trading of Tandem Diabetes Care

Several hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care in the third quarter worth about $52,000. Coldstream Capital Management Inc. boosted its stake in shares of Tandem Diabetes Care by 14.0% during the third quarter. Coldstream Capital Management Inc. now owns 6,212 shares of the medical device company’s stock valued at $263,000 after purchasing an additional 762 shares in the last quarter. Geode Capital Management LLC raised its stake in Tandem Diabetes Care by 1.2% in 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 in the last quarter. M&T Bank Corp lifted its holdings in Tandem Diabetes Care by 1.7% during the third quarter. M&T Bank Corp now owns 51,835 shares of the medical device company’s stock worth $2,199,000 after buying an additional 858 shares during the period. Finally, State Street Corp boosted its position in Tandem Diabetes Care by 3.2% during 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 acquiring an additional 83,172 shares in the last quarter.

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.