Key Points
- Director Christopher Twomey sold 1,700 Tandem Diabetes Care shares at an average price of $19.15, generating $32,555. The transaction, conducted under a Rule 10b5-1 plan, reduced his direct ownership by 6.5% to 24,434 shares.
- Tandem reported quarterly revenue of $254.56 million, up 5.8% year over year, and a loss of $0.31 per share—slightly better than analysts expected. Analysts anticipate a full-year loss of $0.66 per share.
- Wall Street’s consensus rating is “Hold”, with an average price target of $27.08, although several firms maintain “Buy” or “Outperform” ratings. TNDM opened at $19.79, within a 52-week range of $12.26 to $29.65.
Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) Director Christopher Twomey sold 1,700 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $19.15, for a total transaction of $32,555.00. Following the transaction, the director directly owned 24,434 shares in the company, valued at approximately $467,911.10. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tandem Diabetes Care Stock Up 0.6%
TNDM opened at $19.79 on Friday. Tandem Diabetes Care, Inc. has a 1-year low of $12.26 and a 1-year high of $29.65. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. The company has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $18.96.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.01. The firm had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.78) earnings per share. Analysts expect that Tandem Diabetes Care, Inc. will post -0.66 earnings per share for the current year.
Wall Street Analyst Weigh In
TNDM has been the subject of a number of research reports. Truist Financial reduced their price objective on Tandem Diabetes Care from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. Oppenheimer reaffirmed an "outperform" rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Citigroup cut their target price on Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Finally, William Blair initiated coverage on shares of Tandem Diabetes Care in a research report on Friday, August 21st. They issued an "outperform" rating for the company. One investment 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. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $27.08.
View Our Latest Report on TNDM
Institutional Investors Weigh In On Tandem Diabetes Care
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Leonteq Securities AG boosted its position in shares of Tandem Diabetes Care by 21.7% during the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company's stock valued at $182,000 after buying an additional 1,695 shares during the last quarter. OP Asset Management Ltd bought a new stake in Tandem Diabetes Care during the first quarter worth $35,000. Sterling Capital Management LLC grew its holdings in Tandem Diabetes Care by 849.0% during the third quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company's stock worth $38,000 after buying an additional 2,080 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Tandem Diabetes Care in the 2nd quarter valued at $33,000. Finally, 180 Wealth Advisors LLC raised its position in Tandem Diabetes Care by 17.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company's stock valued at $302,000 after buying an additional 2,320 shares during the last quarter.
About Tandem Diabetes Care
(
Get Free Report)
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.
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