Insider Buying: Tandem Diabetes Care Inc (TNDM) CEO Purchases 750,000 Shares of Stock

Tandem Diabetes Care Inc (NASDAQ:TNDM) CEO Kim D. Blickenstaff purchased 750,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tandem Diabetes Care Inc (NASDAQ:TNDM) opened at $2.41 on Friday. Tandem Diabetes Care Inc has a 12 month low of $2.14 and a 12 month high of $26.00. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70. The stock has a market capitalization of $24.39, a P/E ratio of -0.12 and a beta of 0.44.

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. Wedbush Securities Inc. raised its position in shares of Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after purchasing an additional 88,709 shares during the period. Russell Investments Group Ltd. raised its position in shares of Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after purchasing an additional 78,748 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after purchasing an additional 32,991 shares during the period.

TNDM has been the topic of several recent analyst reports. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Wednesday, December 6th. Robert W. Baird reissued a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Tandem Diabetes Care presently has a consensus rating of “Hold” and an average target price of $11.29.

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Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).

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