Tandem Diabetes Care (NASDAQ:TNDM) Director Christopher Twomey Sells 1,700 Shares of Company Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Christopher Twomey sold 1,700 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $19.15, for a total value of $32,555.00. Following the transaction, the director directly owned 24,434 shares in the company, 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 filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tandem Diabetes Care Stock Up 0.6%

Shares of TNDM traded up $0.11 during mid-day trading on Thursday, hitting $19.79. 3,356,944 shares of the company traded hands, compared to its average volume of 2,122,634. The company has a market capitalization of $1.38 billion, a PE ratio of -21.28 and a beta of 1.66. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. Tandem Diabetes Care, Inc. has a 1-year low of $12.26 and a 1-year high of $29.65. The business has a 50 day moving average of $18.16 and a 200 day moving average of $18.97.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) 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 company had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. During the same quarter last year, the business posted ($0.78) EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently added to or reduced their stakes in TNDM. Integrated Wealth Concepts LLC acquired a new stake in Tandem Diabetes Care during the 2nd quarter worth approximately $33,000. OP Asset Management Ltd acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at $35,000. Sterling Capital Management LLC boosted its holdings in Tandem Diabetes Care by 849.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company’s stock valued at $38,000 after purchasing an additional 2,080 shares during the period. Prosperitas Financial LLC bought a new position in shares of Tandem Diabetes Care in the second quarter worth about $151,000. Finally, Proficio Capital Partners LLC acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at approximately $180,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on TNDM. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Tuesday, September 8th. Canaccord Genuity Group set a $40.00 price objective on Tandem Diabetes Care in a report on Friday, August 7th. Barclays raised Tandem Diabetes Care to a “hold” rating in a research report on Wednesday, October 7th. Mizuho set a $18.00 target price on Tandem Diabetes Care in a research report on Tuesday, October 13th. Finally, Truist Financial reduced their price target on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.08.

About Tandem Diabetes Care

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.