Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Rebecca B. Robertson Sells 500 Shares

Thursday, June 10, 2021 | MarketBeat

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Rebecca B. Robertson sold 500 shares of the stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 2,392 shares in the company, valued at approximately $215,280. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

TNDM traded up $3.39 during trading on Thursday, hitting $91.35. 486,166 shares of the stock traded hands, compared to its average volume of 733,471. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -191.22 and a beta of 0.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 6.40 and a quick ratio of 5.75. The company has a 50-day moving average price of $87.31. Tandem Diabetes Care, Inc. has a 12-month low of $76.19 and a 12-month high of $123.74.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, May 5th. The medical device company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.16) by $0.08. The business had revenue of $141.04 million during the quarter, compared to analysts' expectations of $122.66 million. Tandem Diabetes Care had a negative net margin of 4.53% and a negative return on equity of 1.12%. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post 0.06 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in TNDM. FMR LLC lifted its position in shares of Tandem Diabetes Care by 248.9% in the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company's stock worth $44,818,000 after purchasing an additional 503,482 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tandem Diabetes Care by 5.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,713 shares of the medical device company's stock worth $642,000 after purchasing an additional 365 shares during the period. Victory Capital Management Inc. lifted its position in shares of Tandem Diabetes Care by 24.5% in the 4th quarter. Victory Capital Management Inc. now owns 164,488 shares of the medical device company's stock worth $15,738,000 after purchasing an additional 32,350 shares during the period. California Public Employees Retirement System lifted its position in shares of Tandem Diabetes Care by 7.4% in the 4th quarter. California Public Employees Retirement System now owns 133,719 shares of the medical device company's stock worth $12,794,000 after purchasing an additional 9,176 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Tandem Diabetes Care by 2.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 22,250 shares of the medical device company's stock worth $2,129,000 after purchasing an additional 510 shares during the period. 91.46% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. SVB Leerink increased their price target on shares of Tandem Diabetes Care from $95.00 to $102.00 and gave the stock a "market perform" rating in a report on Thursday, May 6th. Oppenheimer increased their price target on shares of Tandem Diabetes Care from $130.00 to $135.00 in a report on Thursday, May 6th. Zacks Investment Research cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and set a $101.00 price objective for the company. in a research note on Monday, March 1st. Lake Street Capital upped their price objective on shares of Tandem Diabetes Care from $137.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, February 25th. Finally, Barclays began coverage on shares of Tandem Diabetes Care in a research note on Monday, May 24th. They issued an "underweight" rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of "Buy" and an average target price of $117.50.

About Tandem Diabetes Care

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, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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