SG Americas Securities LLC bought a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,590 shares of the medical device company’s stock, valued at approximately $1,268,000. SG Americas Securities LLC owned 0.06% of Tandem Diabetes Care as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of TNDM. BlackRock Inc. increased its stake in shares of Tandem Diabetes Care by 6,936.3% in the second quarter. BlackRock Inc. now owns 2,935,537 shares of the medical device company’s stock worth $64,641,000 after buying an additional 2,893,817 shares during the period. Orbimed Advisors LLC purchased a new position in shares of Tandem Diabetes Care in the second quarter worth $37,192,000. Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care in the second quarter valued at $27,296,000. Ardevora Asset Management LLP bought a new stake in Tandem Diabetes Care in the third quarter valued at $36,988,000. Finally, Castleark Management LLC bought a new stake in Tandem Diabetes Care in the second quarter valued at $10,023,000. 71.60% of the stock is currently owned by institutional investors.
In other Tandem Diabetes Care news, Director Richard P. Valencia bought 1,300 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $37.75 per share, for a total transaction of $49,075.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David B. Berger sold 11,493 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $396,968.22. Following the sale, the executive vice president now owns 11,765 shares in the company, valued at approximately $406,363.10. The disclosure for this sale can be found here. Insiders own 9.30% of the company’s stock.
TNDM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Lake Street Capital lifted their price target on shares of Tandem Diabetes Care from $35.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 20th. Stifel Nicolaus initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, August 22nd. They issued a “hold” rating and a $34.00 price target on the stock. BidaskClub upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Finally, Bank of America upgraded shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and set a $45.00 price target on the stock in a report on Friday, August 24th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.75.
Shares of TNDM stock opened at $33.49 on Friday. Tandem Diabetes Care Inc has a 12 month low of $2.14 and a 12 month high of $52.55.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, November 1st. The medical device company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative net margin of 93.07% and a negative return on equity of 204.32%. The business had revenue of $46.30 million for the quarter, compared to the consensus estimate of $42.71 million. During the same quarter last year, the firm posted ($3.09) EPS. The business’s quarterly revenue was up 71.5% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care Inc will post -1.31 earnings per share for the current year.
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Tandem Diabetes Care Company 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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