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 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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