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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara bought 532 shares of Tandem Diabetes Care stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $23.24 per share, with a total value of $12,363.68. Following the completion of the purchase, the executive vice president now directly owns 532 shares in the company, valued at $12,363.68. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $27.87 on Wednesday. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69. The business has a 50 day simple moving average of $37.19 and a 200 day simple moving average of $41.62. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -14.44 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

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, topping 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 the consensus estimate of $224.14 million. During the same quarter in the prior year, the firm posted ($0.38) EPS. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. Analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its position in shares of Tandem Diabetes Care by 45.2% in the second 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 in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after acquiring an additional 389,632 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares during the period. Kingdon Capital Management L.L.C. lifted its position in shares of Tandem Diabetes Care by 153.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after purchasing an additional 298,880 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $10,208,000.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Wells Fargo & Company upped their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, 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 note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.