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 the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $30.81 on Monday. The firm’s fifty day moving average price is $36.16 and its two-hundred day moving average price is $41.24. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69. 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 announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. The business had revenue of $243.97 million for 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 firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) EPS. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in Tandem Diabetes Care during the 3rd quarter valued at $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $30,000. ORG Partners LLC bought a new position in shares of Tandem Diabetes Care during the second quarter valued at about $31,000. Finally, Waldron Private Wealth LLC purchased a new position in Tandem Diabetes Care during the third quarter worth about $50,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TNDM shares. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 target price for the company. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Royal Bank of Canada began coverage on 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. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.25.

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.