Insider Buying: Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Acquires 532 Shares of Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) EVP Mark David Novara bought 532 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $23.24 per share, with a total value of $12,363.68. Following the completion of the purchase, the executive vice president now directly owns 532 shares in the company, valued at $12,363.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tandem Diabetes Care Price Performance

NASDAQ TNDM traded down $0.89 on Tuesday, hitting $27.87. The company had a trading volume of 1,344,288 shares, compared to its average volume of 1,604,687. The company has a market capitalization of $1.83 billion, a PE ratio of -14.44 and a beta of 1.36. The company’s fifty day moving average price is $37.19 and its 200-day moving average price is $41.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 12-month low of $17.33 and a 12-month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.38) EPS. As a group, analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of Tandem Diabetes Care during the second quarter worth $31,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth $50,000.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research reports. Canaccord Genuity Group decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.