Avantax Advisory Services Inc. purchased a new stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,016 shares of the medical device company’s stock, valued at approximately $1,478,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNDM. Hoover Financial Advisors Inc. acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at about $26,000. CSat Investment Advisory L.P. acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at about $33,000. Ameritas Investment Company LLC acquired a new stake in shares of Tandem Diabetes Care in the first quarter valued at about $34,000. Private Advisor Group LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at about $35,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Tandem Diabetes Care in the first quarter valued at about $36,000.
Shares of NASDAQ:TNDM opened at $118.74 on Friday. Tandem Diabetes Care Inc has a 12-month low of $43.69 and a 12-month high of $123.74. The stock has a market cap of $7.23 billion, a PE ratio of -158.32 and a beta of 0.50. The business has a 50 day moving average of $110.91 and a 200-day moving average of $93.68. The company has a quick ratio of 4.18, a current ratio of 4.72 and a debt-to-equity ratio of 0.80.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.21). The company had revenue of $109.24 million during the quarter, compared to the consensus estimate of $86.51 million. Tandem Diabetes Care had a negative net margin of 10.29% and a negative return on equity of 12.88%. Equities research analysts expect that Tandem Diabetes Care Inc will post -0.27 earnings per share for the current year.
In related news, EVP Brian B. Hansen sold 23,954 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $105.86, for a total value of $2,535,770.44. Following the completion of the sale, the executive vice president now directly owns 12,545 shares in the company, valued at $1,328,013.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian B. Hansen sold 39,132 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $111.36, for a total value of $4,357,739.52. Following the completion of the sale, the executive vice president now owns 13,811 shares of the company’s stock, valued at $1,537,992.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 469,599 shares of company stock valued at $51,004,143. 6.00% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on the company. ValuEngine raised Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research report on Thursday, October 1st. Raymond James boosted their price target on Tandem Diabetes Care from $95.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Guggenheim raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday, July 31st. BidaskClub raised Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research report on Thursday, September 24th. Finally, Oppenheimer reissued a “buy” rating and set a $120.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Tandem Diabetes Care currently has an average rating of “Buy” and an average price target of $114.13.
Tandem Diabetes Care Profile
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 that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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