Tandem Diabetes Care (NASDAQ:TNDM) Trading 5.7% Higher

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Tandem Diabetes Care Inc (NASDAQ:TNDM) traded up 5.7% on Tuesday . The stock traded as high as $67.40 and last traded at $66.74, 1,511,300 shares changed hands during mid-day trading. A decline of 7% from the average session volume of 1,627,829 shares. The stock had previously closed at $63.12.

Several equities analysts have recently weighed in on the company. ValuEngine raised Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. UBS Group raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, October 4th. BidaskClub lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird reduced their price objective on Tandem Diabetes Care from $81.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Oppenheimer lifted their price objective on Tandem Diabetes Care from $80.00 to $84.00 in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.54.

The firm has a 50-day moving average of $60.44 and a 200 day moving average of $63.88. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -26.17 and a beta of 0.16. The company has a current ratio of 2.46, a quick ratio of 2.05 and a debt-to-equity ratio of 0.09.

In related news, EVP Brian B. Hansen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $62.01, for a total transaction of $930,150.00. Following the transaction, the executive vice president now directly owns 17,991 shares of the company’s stock, valued at approximately $1,115,621.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Leigh Vosseller sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $65.41, for a total value of $654,100.00. Following the transaction, the chief financial officer now directly owns 13,265 shares in the company, valued at $867,663.65. The disclosure for this sale can be found here. Insiders have sold a total of 451,804 shares of company stock worth $31,659,471 over the last three months. 6.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC lifted its position in Tandem Diabetes Care by 9.0% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,239,535 shares of the medical device company’s stock worth $73,108,000 after acquiring an additional 102,758 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Tandem Diabetes Care during the 3rd quarter worth approximately $163,000. SG Americas Securities LLC lifted its position in Tandem Diabetes Care by 507.4% during the 3rd quarter. SG Americas Securities LLC now owns 14,353 shares of the medical device company’s stock worth $847,000 after acquiring an additional 11,990 shares in the last quarter. First Trust Advisors LP lifted its position in Tandem Diabetes Care by 19.0% during the 3rd quarter. First Trust Advisors LP now owns 52,412 shares of the medical device company’s stock worth $3,091,000 after acquiring an additional 8,362 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in Tandem Diabetes Care by 103.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,250 shares of the medical device company’s stock worth $487,000 after acquiring an additional 4,200 shares in the last quarter. 80.73% of the stock is currently owned by hedge funds and other institutional investors.

Tandem Diabetes Care Company Profile (NASDAQ:TNDM)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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