Insider Buying: Tandem Diabetes Care, Inc. (TNDM) CEO Purchases 285,700 Shares of Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CEO Kim D. Blickenstaff acquired 285,700 shares of the company’s stock in a transaction on Friday, October 13th. The stock was acquired at an average price of $3.50 per share, with a total value of $999,950.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Tandem Diabetes Care, Inc. (TNDM) opened at 2.55 on Friday. The firm has a 50-day moving average of $5.40 and a 200 day moving average of $7.22. The company’s market capitalization is $12.81 million. Tandem Diabetes Care, Inc. has a 12-month low of $2.27 and a 12-month high of $63.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.74) by $0.65. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The firm had revenue of $27.00 million for the quarter, compared to the consensus estimate of $25.92 million. During the same period in the prior year, the firm posted ($0.97) earnings per share. The company’s revenue for the quarter was up 119.7% on a year-over-year basis. Analysts expect that Tandem Diabetes Care, Inc. will post ($17.06) EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Iguana Healthcare Management LLC lifted its holdings in shares of Tandem Diabetes Care by 33.3% in the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Tandem Diabetes Care by 32.7% in the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after buying an additional 72,177 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Tandem Diabetes Care in the first quarter worth about $360,000. Bank of America Corp DE lifted its holdings in shares of Tandem Diabetes Care by 88.6% in the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after buying an additional 404,452 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after buying an additional 32,991 shares in the last quarter.

Several analysts have weighed in on TNDM shares. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (down previously from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.31.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).

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