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 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 document filed with the SEC, which is accessible through the SEC website.

Tandem Diabetes Care Stock Up 0.2 %

Shares of TNDM traded up $0.07 during trading hours on Friday, hitting $30.81. 1,227,984 shares of the company were exchanged, compared to its average volume of 1,606,265. The firm’s 50 day moving average is $36.42 and its 200-day moving average is $41.35. 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 52 week low of $18.45 and a 52 week high of $53.69. The company has a market cap of $2.02 billion, a PE ratio of -15.93 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.38) earnings per share. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 0.4% in 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 last quarter. State Street Corp boosted its stake in shares of 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 worth $112,630,000 after buying an additional 83,172 shares during the last quarter. Fred Alger Management LLC increased its position 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 acquiring an additional 677,036 shares during the last quarter. Bellevue Group AG boosted its position in Tandem Diabetes Care by 2.0% during 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Tandem Diabetes Care by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock worth $64,722,000 after purchasing an additional 18,187 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TNDM shares. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Canaccord Genuity Group cut 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 report on Thursday, November 7th. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price on the stock. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report 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’s stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

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.