Raymond James Financial Services Advisors Inc. acquired a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,694 shares of the medical device company’s stock, valued at approximately $959,000.
Other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $30,000. Ameritas Investment Company LLC purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $34,000. Meeder Asset Management Inc. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $36,000. Exchange Traded Concepts LLC purchased a new position in shares of Tandem Diabetes Care in the 2nd quarter worth approximately $43,000. Finally, Citizens Financial Group Inc RI purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $61,000. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
TNDM has been the topic of a number of analyst reports. Lake Street Capital lifted their price objective on shares of Tandem Diabetes Care from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum lifted their target price on shares of Tandem Diabetes Care from $102.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday. ValuEngine cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Cowen lifted their target price on shares of Tandem Diabetes Care from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Guggenheim upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $111.62.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.21). Tandem Diabetes Care had a negative net margin of 10.29% and a negative return on equity of 14.20%. The business had revenue of $109.24 million for the quarter, compared to analyst estimates of $86.51 million. Analysts forecast that Tandem Diabetes Care Inc will post -0.47 EPS for the current year.
In related news, Director Christopher J. Twomey sold 7,500 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $100.28, for a total value of $752,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Leigh Vosseller sold 10,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the transaction, the chief financial officer now owns 14,520 shares of the company’s stock, valued at $1,525,180.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,000 shares of company stock valued at $11,058,360. Company insiders own 6.00% of the company’s stock.
Tandem Diabetes Care Company Profile
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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