Insider Selling: Tandem Diabetes Care Inc (TNDM) CEO Sells 198,000 Shares of Stock

Tandem Diabetes Care Inc (NASDAQ:TNDM) CEO Kim D. Blickenstaff sold 198,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $37.01, for a total value of $7,327,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ TNDM traded up $2.76 during trading hours on Wednesday, reaching $39.56. 1,825,338 shares of the stock traded hands, compared to its average volume of 2,454,627. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -3.07 and a beta of 0.53. Tandem Diabetes Care Inc has a 52-week low of $2.14 and a 52-week high of $52.55.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 1st. The medical device company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $42.71 million. Tandem Diabetes Care had a negative net margin of 93.07% and a negative return on equity of 204.32%. The business’s quarterly revenue was up 71.5% on a year-over-year basis. During the same period in the prior year, the business posted ($3.09) earnings per share. As a group, sell-side analysts anticipate that Tandem Diabetes Care Inc will post -1.41 earnings per share for the current fiscal year.

Several research firms have weighed in on TNDM. Lake Street Capital set a $60.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a report on Saturday. BidaskClub cut Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Oppenheimer set a $57.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a report on Friday, November 2nd. Craig Hallum set a $59.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a report on Friday, November 2nd. Finally, Piper Jaffray Companies raised their price objective on Tandem Diabetes Care to $32.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tandem Diabetes Care currently has a consensus rating of “Buy” and an average price target of $44.27.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Tandem Diabetes Care by 6.8% in the 3rd quarter. Rhumbline Advisers now owns 45,756 shares of the medical device company’s stock worth $1,960,000 after purchasing an additional 2,910 shares during the period. Prudential Financial Inc. purchased a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $235,000. SG Americas Securities LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $1,268,000. Commonwealth Equity Services LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $750,000. Finally, Lisanti Capital Growth LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $1,584,000. 62.80% of the stock is currently owned by institutional investors.

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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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