Tandem Diabetes Care (NASDAQ:TNDM) Director Sells $32,555.00 in Stock

Key Points

• Director Christopher Twomey sold 1,700 Tandem Diabetes Care shares at an average price of $19.15, for total proceeds of $32,555. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 6.5% to 24,434 shares.
• TNDM shares rose 0.6% to $19.79, with the company valued at approximately $1.38 billion. Tandem recently reported a quarterly loss of $0.31 per share, slightly better than estimates, while revenue increased 5.8% year over year to $254.56 million.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $27.08. Several institutional investors increased their positions during the third quarter.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) Director Christopher Twomey sold 1,700 shares of the business's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $19.15, for a total transaction of $32,555.00. Following the transaction, the director owned 24,434 shares of the company's stock, valued at approximately $467,911.10. This represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tandem Diabetes Care Stock Up 0.6%

Shares of NASDAQ:TNDM traded up $0.11 during midday trading on Thursday, reaching $19.79. 3,356,944 shares of the company were exchanged, compared to its average volume of 2,122,634. The firm has a market cap of $1.38 billion, a PE ratio of -21.28 and a beta of 1.66. Tandem Diabetes Care, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $29.65. The stock has a fifty day simple moving average of $18.16 and a two-hundred day simple moving average of $18.97. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. The firm had revenue of $254.56 million during the quarter, compared to analysts' expectations of $254.99 million. During the same period in the prior year, the firm posted ($0.78) earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Tandem Diabetes Care to a "hold" rating in a research report on Wednesday, October 7th. Oppenheimer reissued an "outperform" rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tandem Diabetes Care in a research note on Tuesday, September 8th. Citigroup cut their price target on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, September 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.08.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of the company. Summit Global Investments boosted its stake in shares of Tandem Diabetes Care by 13.9% in the 3rd quarter. Summit Global Investments now owns 24,753 shares of the medical device company's stock worth $404,000 after buying an additional 3,017 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Tandem Diabetes Care by 31.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 34,400 shares of the medical device company's stock valued at $561,000 after buying an additional 8,200 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Tandem Diabetes Care by 849.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company's stock valued at $38,000 after buying an additional 2,080 shares in the last quarter. Inspire Investing LLC raised its position in Tandem Diabetes Care by 315.2% in the 3rd quarter. Inspire Investing LLC now owns 183,095 shares of the medical device company's stock worth $2,986,000 after purchasing an additional 138,998 shares during the period. Finally, First Light Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 157.4% in the second quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company's stock worth $51,058,000 after purchasing an additional 2,068,838 shares during the last quarter.

About Tandem Diabetes Care

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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