Insider Selling: Tandem Diabetes Care (NASDAQ:TNDM) Director Sells $32,555.00 in Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Christopher Twomey sold 1,700 shares of Tandem Diabetes Care stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $19.15, for a total value of $32,555.00. Following the completion of the transaction, the director owned 24,434 shares of the company’s stock, valued at approximately $467,911.10. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tandem Diabetes Care Stock Down 3.4%

NASDAQ:TNDM opened at $19.11 on Friday. The firm has a market capitalization of $1.33 billion, a PE ratio of -20.55 and a beta of 1.66. The stock has a 50 day moving average of $18.02 and a 200-day moving average of $18.94. Tandem Diabetes Care, Inc. has a 52 week low of $12.26 and a 52 week high of $29.65. The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $254.99 million. During the same period in the prior year, the firm earned ($0.78) EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts predict that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently made changes to their positions in the business. Leonteq Securities AG increased its position in Tandem Diabetes Care by 21.7% in the 1st quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock valued at $182,000 after acquiring an additional 1,695 shares during the period. OP Asset Management Ltd bought a new stake in Tandem Diabetes Care during the 1st quarter valued at $35,000. Sterling Capital Management LLC raised its stake in Tandem Diabetes Care by 849.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company’s stock valued at $38,000 after acquiring an additional 2,080 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Tandem Diabetes Care during the 2nd quarter valued at $33,000. Finally, 180 Wealth Advisors LLC boosted its position in Tandem Diabetes Care by 17.3% during the 1st quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company’s stock worth $302,000 after acquiring an additional 2,320 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on TNDM. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a research report on Friday, August 7th. William Blair assumed coverage on shares of Tandem Diabetes Care in a research report on Friday, August 21st. They set an “outperform” rating for the company. Finally, Mizuho set a $18.00 price objective on shares of Tandem Diabetes Care in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.08.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to help automate and simplify insulin therapy while supporting integration with continuous glucose monitoring (CGM) technology.

Tandem’s product portfolio includes the t:slim X2 Insulin Pump and the compact Tandem Mobi system, along with insulin cartridges, infusion sets, accessories and diabetes management software.