Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CEO Acquires $102,300.00 in Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CEO John F. Sheridan bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $10.11 on Tuesday. The firm has a market capitalization of $683.13 million, a P/E ratio of -3.27 and a beta of 1.46. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $47.60. The business has a 50-day moving average of $17.36 and a 200-day moving average of $21.17. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. Tandem Diabetes Care’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares during the period. NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care during the 1st quarter valued at about $37,000. CWM LLC lifted its holdings in shares of Tandem Diabetes Care by 262.6% during the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 2,025 shares in the last quarter. State of Wyoming lifted its holdings in shares of Tandem Diabetes Care by 95.9% during the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock valued at $108,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Tandem Diabetes Care by 417.8% during the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock valued at $65,000 after purchasing an additional 2,741 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TNDM shares. Stifel Nicolaus cut their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Lake Street Capital downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $12.00 in a report on Monday. Wall Street Zen downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Citigroup reissued a “sell” rating and issued a $14.00 price target (down from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday, July 9th. Finally, Canaccord Genuity Group set a $24.00 price target on shares of Tandem Diabetes Care and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.67.

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.