Goldman Sachs Group Inc. boosted its position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) by 21.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,426 shares of the medical device company’s stock after acquiring an additional 134,544 shares during the period. Goldman Sachs Group Inc. owned 1.27% of Tandem Diabetes Care worth $44,733,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of TNDM. CWM LLC grew its stake in Tandem Diabetes Care by 393.5% during the fourth quarter. CWM LLC now owns 528 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 421 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $45,000. Sowell Financial Services LLC purchased a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $54,000. US Bancorp DE grew its stake in Tandem Diabetes Care by 101.0% during the fourth quarter. US Bancorp DE now owns 1,164 shares of the medical device company’s stock valued at $70,000 after acquiring an additional 585 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $141,000. 90.92% of the stock is owned by institutional investors.
In other news, Director Dick Allen sold 2,979 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $78.82, for a total value of $234,804.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Leigh Vosseller sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $75.93, for a total transaction of $759,300.00. Following the completion of the sale, the chief financial officer now directly owns 12,882 shares of the company’s stock, valued at approximately $978,130.26. The disclosure for this sale can be found here. Insiders sold a total of 102,295 shares of company stock valued at $7,745,966 in the last ninety days. 6.90% of the stock is owned by corporate insiders.
A number of equities analysts have commented on the stock. ValuEngine raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research note on Monday, March 9th. Citigroup assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, March 4th. They issued a “neutral” rating and a $89.00 price target for the company. Craig Hallum boosted their price target on shares of Tandem Diabetes Care from $92.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Oppenheimer boosted their price target on shares of Tandem Diabetes Care from to in a research note on Tuesday, February 25th. Finally, Piper Sandler boosted their price target on shares of Tandem Diabetes Care from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $84.67.
TNDM stock opened at $57.50 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.28. Tandem Diabetes Care Inc has a one year low of $43.69 and a one year high of $91.65. The stock has a market cap of $3.30 billion, a PE ratio of -119.79 and a beta of 0.20. The firm has a 50 day simple moving average of $72.09 and a two-hundred day simple moving average of $65.59.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Monday, February 24th. The medical device company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.07. Tandem Diabetes Care had a negative net margin of 6.83% and a negative return on equity of 8.99%. The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $109.22 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 42.3% on a year-over-year basis. On average, research analysts expect that Tandem Diabetes Care Inc will post -0.03 EPS for the current fiscal year.
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. 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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