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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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 of the company’s stock, valued at $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 is available at the SEC website.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $30.81 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $18.45 and a 1 year high of $53.69. The company has a fifty day simple moving average of $36.16 and a 200 day simple moving average of $41.26. 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 company has a market cap of $2.02 billion, a P/E ratio of -15.96 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) earnings per share. On average, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent analyst reports. Barclays upped their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird reduced 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 research report on Thursday, November 7th. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Morgan Stanley reissued 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares during the last quarter. State Street Corp raised its stake 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 purchasing an additional 83,172 shares during the last quarter. Fred Alger Management LLC boosted its holdings in 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 period. Bellevue Group AG grew its position in Tandem Diabetes Care by 2.0% in the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after purchasing an additional 39,571 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 period.

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.