Dynamic Technology Lab Private Ltd Takes $2.24 Million Position in Tandem Diabetes Care Inc (TNDM)
Dynamic Technology Lab Private Ltd acquired a new position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 52,256 shares of the medical device company’s stock, valued at approximately $2,238,000. Dynamic Technology Lab Private Ltd owned approximately 0.09% of Tandem Diabetes Care at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of TNDM. Royal Bank of Canada lifted its position in Tandem Diabetes Care by 2,375,000.0% during the first quarter. Royal Bank of Canada now owns 47,502 shares of the medical device company’s stock worth $236,000 after purchasing an additional 47,500 shares during the period. First Manhattan Co. bought a new stake in Tandem Diabetes Care during the second quarter worth about $336,000. Sei Investments Co. bought a new stake in Tandem Diabetes Care during the second quarter worth about $1,013,000. Engineers Gate Manager LP bought a new stake in Tandem Diabetes Care during the second quarter worth about $2,175,000. Finally, EAM Investors LLC bought a new stake in Tandem Diabetes Care during the second quarter worth about $4,408,000. Institutional investors own 71.60% of the company’s stock.
In other news, Director Richard P. Valencia acquired 1,300 shares of the stock in a transaction dated Monday, November 5th. The stock was bought at an average price of $37.75 per share, with a total value of $49,075.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $37.01, for a total value of $7,327,980.00. The disclosure for this sale can be found here. Corporate insiders own 9.30% of the company’s stock.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, November 1st. The medical device company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $46.30 million during the quarter, compared to analyst estimates of $42.71 million. During the same period in the prior year, the company earned ($3.09) EPS. The business’s quarterly revenue was up 71.5% compared to the same quarter last year. Analysts expect that Tandem Diabetes Care Inc will post -1.31 EPS for the current fiscal year.
TNDM has been the subject of several research analyst reports. ValuEngine raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, October 5th. Craig Hallum set a $59.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Friday, November 2nd. Dougherty & Co boosted their target price on Tandem Diabetes Care from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, Oppenheimer set a $54.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.75.
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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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