Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Acquires $12,363.68 in Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara acquired 532 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $23.24 per share, with a total value of $12,363.68. Following the acquisition, the executive vice president now directly owns 532 shares of the company’s stock, valued at $12,363.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tandem Diabetes Care Stock Down 3.1 %

Shares of TNDM stock traded down $0.89 during trading hours on Tuesday, reaching $27.87. 1,344,288 shares of the stock were exchanged, compared to its average volume of 1,604,687. The business’s fifty day moving average is $37.19 and its two-hundred day moving average is $41.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 12-month low of $17.33 and a 12-month high of $53.69. The firm has a market capitalization of $1.83 billion, a P/E ratio of -14.44 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last released its 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 firm had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNDM. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the third quarter valued at approximately $28,000. Assetmark Inc. purchased a new position in Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new position in Tandem Diabetes Care in the second quarter valued at approximately $31,000. Finally, Waldron Private Wealth LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at approximately $50,000.

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.