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 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 directly owns 195,190 shares in the company, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Tandem Diabetes Care Price Performance

TNDM stock opened at $30.81 on Friday. 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, Inc. has a 52-week low of $18.45 and a 52-week high of $53.69. The company has a market capitalization of $2.02 billion, a P/E ratio of -15.96 and a beta of 1.36. The company has a fifty day moving average price of $36.16 and a 200-day moving average price of $41.26.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.38) EPS. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after purchasing an additional 431 shares during the period. MN Wealth Advisors LLC raised its stake in Tandem Diabetes Care by 3.1% during the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after buying an additional 440 shares during the last quarter. Signaturefd LLC lifted its holdings in Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after buying an additional 522 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock valued at $603,000 after acquiring an additional 592 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth about $28,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Barclays increased 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 report on Friday, November 8th. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group lowered their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.25.

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.