Northern Trust Corp Purchases 61,768 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Northern Trust Corp boosted its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 697,456 shares of the medical device company's stock after purchasing an additional 61,768 shares during the quarter. Northern Trust Corp owned about 1.06% of Tandem Diabetes Care worth $25,122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. Assetmark Inc. raised its holdings in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after acquiring an additional 535 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Tandem Diabetes Care by 5,955.9% in the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock valued at $74,000 after acquiring an additional 2,025 shares in the last quarter.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TNDM. Mizuho began coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective for the company. Stifel Nicolaus dropped their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler dropped their price objective on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Citigroup lowered Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their price target for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Moderate Buy" and a consensus target price of $39.81.

Tandem Diabetes Care Trading Up 1.1%

Shares of TNDM stock opened at $22.98 on Monday. The firm has a market capitalization of $1.53 billion, a P/E ratio of -11.91 and a beta of 1.47. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock's fifty day simple moving average is $18.66 and its 200 day simple moving average is $28.14.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The firm had revenue of $234.42 million for the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company's revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.65) EPS. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.

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