Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Acquires $12,363.68 in Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara purchased 532 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $23.24 per share, for a total transaction of $12,363.68. Following the completion of the acquisition, the executive vice president now directly owns 532 shares of the company’s stock, valued at $12,363.68. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $30.51 on Friday. Tandem Diabetes Care, Inc. has a twelve month low of $18.45 and a twelve month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $36.42 and a 200-day moving average of $41.35. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -15.93 and a beta of 1.36.

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, beating analysts’ consensus estimates 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 company had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was up 31.4% on a year-over-year basis. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TNDM has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price on the stock. Canaccord Genuity Group dropped their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Institutional Trading of Tandem Diabetes Care

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

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.