Insider Buying: Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Buys 1,000 Shares of Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Director Kathleen Mcgroddy-Goetz bought 1,000 shares of Tandem Diabetes Care stock in a transaction dated Friday, September 15th. The stock was purchased at an average price of $21.45 per share, for a total transaction of $21,450.00. Following the purchase, the director now directly owns 9,032 shares in the company, valued at approximately $193,736.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tandem Diabetes Care Trading Down 0.5 %

Tandem Diabetes Care stock traded down $0.11 during trading hours on Tuesday, reaching $22.03. 1,314,146 shares of the company’s stock traded hands, compared to its average volume of 1,301,898. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.53 and a current ratio of 4.38. Tandem Diabetes Care, Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $58.82. The firm’s 50 day moving average is $28.93 and its 200-day moving average is $32.01.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, August 3rd. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.24. Tandem Diabetes Care had a negative net margin of 28.40% and a negative return on equity of 20.29%. The business had revenue of $195.92 million during the quarter, compared to the consensus estimate of $201.62 million. As a group, research analysts forecast that Tandem Diabetes Care, Inc. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

TNDM has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Tandem Diabetes Care from $40.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Barclays reduced their target price on Tandem Diabetes Care from $71.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Citigroup decreased their price target on Tandem Diabetes Care from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, August 21st. Robert W. Baird cut their price objective on Tandem Diabetes Care from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, August 21st. Finally, Craig Hallum decreased their target price on Tandem Diabetes Care from $74.00 to $50.00 in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TNDM. Belpointe Asset Management LLC acquired a new position in Tandem Diabetes Care in the fourth quarter valued at about $26,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at about $27,000. AdvisorNet Financial Inc bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at about $37,000. State of Wyoming raised its position in shares of Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 258 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Tandem Diabetes Care by 53.5% during the 4th quarter. Quadrant Capital Group LLC now owns 841 shares of the medical device company’s stock worth $38,000 after acquiring an additional 293 shares during the last quarter.

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 and internationally. 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.