Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara Acquires 532 Shares

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara bought 532 shares of Tandem Diabetes Care stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $23.24 per share, with a total value of $12,363.68. Following the acquisition, the executive vice president now owns 532 shares in the company, valued at approximately $12,363.68. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tandem Diabetes Care Stock Down 3.1 %

TNDM opened at $27.87 on Wednesday. Tandem Diabetes Care, Inc. has a twelve month low of $17.33 and a twelve month high of $53.69. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -14.44 and a beta of 1.36. The firm has a 50 day moving average price of $37.19 and a 200-day moving average price of $41.62. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TNDM shares. Barclays lifted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada began coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley restated an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. GAMMA Investing LLC increased its stake in Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after purchasing an additional 431 shares in the last quarter. MN Wealth Advisors LLC lifted its holdings in shares of Tandem Diabetes Care by 3.1% in the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after purchasing an additional 440 shares during the last quarter. Signaturefd LLC raised its stake in Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000.

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.