Tandem Diabetes Care Inc (NASDAQ:TNDM) Shares Acquired by Strs Ohio

Strs Ohio grew its stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 200.0% during the 2nd quarter, Holdings Channel reports. The firm owned 23,100 shares of the medical device company’s stock after purchasing an additional 15,400 shares during the quarter. Strs Ohio’s holdings in Tandem Diabetes Care were worth $1,490,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TNDM. Bank of America Corp DE boosted its position in Tandem Diabetes Care by 250.1% during the fourth quarter. Bank of America Corp DE now owns 121,451 shares of the medical device company’s stock worth $4,613,000 after acquiring an additional 86,763 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Tandem Diabetes Care during the first quarter worth about $189,000. Tarbox Family Office Inc. boosted its position in Tandem Diabetes Care by 11.6% during the first quarter. Tarbox Family Office Inc. now owns 5,780 shares of the medical device company’s stock worth $367,000 after acquiring an additional 600 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Tandem Diabetes Care by 24.4% during the first quarter. Eagle Asset Management Inc. now owns 1,307,033 shares of the medical device company’s stock worth $82,996,000 after acquiring an additional 256,595 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Tandem Diabetes Care by 239.7% during the first quarter. Oppenheimer & Co. Inc. now owns 47,409 shares of the medical device company’s stock worth $3,011,000 after acquiring an additional 33,453 shares during the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

Shares of TNDM stock opened at $62.40 on Tuesday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $63.77. Tandem Diabetes Care Inc has a 12 month low of $26.40 and a 12 month high of $74.81. The stock has a market capitalization of $3.75 billion, a P/E ratio of -24.47 and a beta of 0.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.20. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The company had revenue of $93.26 million for the quarter, compared to the consensus estimate of $69.95 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. Tandem Diabetes Care’s quarterly revenue was up 173.2% compared to the same quarter last year. As a group, analysts anticipate that Tandem Diabetes Care Inc will post -0.65 earnings per share for the current fiscal year.

In other Tandem Diabetes Care news, Director Howard E. Greene, Jr. sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas A. Roeder sold 13,347 shares of Tandem Diabetes Care stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $70.08, for a total transaction of $935,357.76. The disclosure for this sale can be found here. Insiders have sold 102,537 shares of company stock worth $7,069,162 over the last ninety days. 6.90% of the stock is owned by insiders.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. BidaskClub upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Bank of America restated a “neutral” rating and set a $65.00 price target on shares of Tandem Diabetes Care in a research report on Friday, May 17th. Leerink Swann assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They set an “outperform” rating and a $83.00 price target on the stock. Finally, Lake Street Capital restated a “buy” rating on shares of Tandem Diabetes Care in a research report on Monday, June 17th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $68.38.

Tandem Diabetes Care 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.

See Also: Short Selling

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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