Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,835 shares of the medical device company’s stock after purchasing an additional 858 shares during the period. M&T Bank Corp owned about 0.08% of Tandem Diabetes Care worth $2,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TNDM. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care in the third quarter valued at $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth about $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at about $31,000. Finally, Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care in the third quarter worth about $50,000.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $32.66 on Friday. Tandem Diabetes Care, Inc. has a 12-month low of $21.85 and a 12-month high of $53.69. The company has a market cap of $2.15 billion, a PE ratio of -16.92 and a beta of 1.32. The stock has a 50 day simple moving average of $32.82 and a 200-day simple moving average of $39.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The company 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 firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Citigroup dropped their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a report on Monday, December 2nd. Barclays increased their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Robert W. Baird decreased their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.81.

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.