Tempus AI, Inc. (NASDAQ:TEM) Shares Purchased by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. increased its holdings in Tempus AI, Inc. by 31.5%, owning over 4.26 million shares, making it the firm's 11th largest investment.
• Tempus AI's latest quarterly earnings report indicated a loss of ($0.24) EPS, surpassing analysts' expectations, with a revenue increase of 75.4% year-over-year.
• Insider transactions revealed significant sales, with CEO Eric P. Lefkofsky selling 250,000 shares, decreasing his ownership by 2.60% post-transaction.

Nikko Asset Management Americas Inc. increased its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 31.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,260,553 shares of the company's stock after purchasing an additional 1,021,460 shares during the quarter. Tempus AI accounts for about 2.6% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 11th largest holding. Nikko Asset Management Americas Inc. owned approximately 2.47% of Tempus AI worth $205,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Operose Advisors LLC purchased a new position in Tempus AI in the 4th quarter worth approximately $25,000. Cherry Tree Wealth Management LLC purchased a new position in Tempus AI in the 1st quarter worth approximately $31,000. Continuum Advisory LLC purchased a new position in Tempus AI in the 1st quarter worth approximately $39,000. Bartlett & CO. Wealth Management LLC boosted its holdings in Tempus AI by 100.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock worth $39,000 after acquiring an additional 400 shares during the period. Finally, Signaturefd LLC purchased a new position in Tempus AI in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Tempus AI Trading Up 1.8%

Shares of TEM opened at $64.49 on Friday. The business's 50-day moving average price is $62.80 and its 200 day moving average price is $56.51. The stock has a market capitalization of $11.16 billion and a P/E ratio of -8.27. Tempus AI, Inc. has a 1-year low of $31.36 and a 1-year high of $91.45. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The firm had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The firm's revenue was up 75.4% compared to the same quarter last year. Analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler increased their target price on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Morgan Stanley raised their price objective on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Bank of America raised their price objective on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Finally, BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They set a "buy" rating and a $60.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.09.

Insider Transactions at Tempus AI

In other Tempus AI news, Director Theodore Leonsis sold 205,847 shares of Tempus AI stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total value of $13,927,608.02. Following the transaction, the director directly owned 15,511 shares of the company's stock, valued at $1,049,474.26. The trade was a 92.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total value of $17,517,500.00. Following the completion of the transaction, the chief executive officer directly owned 9,357,283 shares in the company, valued at approximately $655,664,819.81. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 612,522 shares of company stock worth $41,600,238. 27.60% of the stock is currently owned by company insiders.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.

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