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 that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tandem Diabetes Care Trading Up 0.2 %

Shares of TNDM stock opened at $30.81 on Friday. The stock has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $41.26. The stock has a market capitalization of $2.02 billion, a P/E ratio of -15.96 and a beta of 1.36. Tandem Diabetes Care, Inc. has a fifty-two week low of $18.45 and a fifty-two week 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 issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share 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 the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.38) EPS. On average, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TNDM shares. Wells Fargo & Company increased their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays increased their price objective 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. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently added to or reduced their stakes in TNDM. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at $540,000. 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 valued at $249,732,000 after purchasing an additional 30,664 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Tandem Diabetes Care by 368.5% during the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares during the last quarter. abrdn plc acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $6,126,000. Finally, LMR Partners LLP increased its stake in Tandem Diabetes Care by 235.5% in the 3rd quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock worth $1,434,000 after purchasing an additional 23,743 shares in the last quarter.

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.