SG Americas Securities LLC Takes Position in Tandem Diabetes Care Inc (TNDM)
SG Americas Securities LLC bought a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,590 shares of the medical device company’s stock, valued at approximately $1,268,000.
A number of other large investors have also modified their holdings of TNDM. US Bancorp DE raised its position in Tandem Diabetes Care by 397.8% in the 3rd quarter. US Bancorp DE now owns 2,489 shares of the medical device company’s stock worth $107,000 after buying an additional 1,989 shares during the last quarter. Meeder Asset Management Inc. raised its position in Tandem Diabetes Care by 1,921.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,709 shares of the medical device company’s stock worth $116,000 after buying an additional 2,575 shares during the last quarter. Legal & General Group Plc purchased a new position in Tandem Diabetes Care in the 2nd quarter worth about $147,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $174,000. Finally, Fox Run Management L.L.C. purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $203,000. 71.60% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on TNDM. Bank of America raised Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and set a $45.00 target price for the company in a research report on Friday, August 24th. Dougherty & Co began coverage on Tandem Diabetes Care in a research report on Friday, August 24th. They issued a “buy” rating and a $45.00 target price for the company. Lake Street Capital set a $60.00 price target on shares of Tandem Diabetes Care and gave the company a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, BidaskClub lowered shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 7th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.75.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, November 1st. The medical device company reported ($0.62) 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 business had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $42.71 million. During the same period in the previous year, the company earned ($3.09) EPS. Tandem Diabetes Care’s revenue for the quarter was up 71.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tandem Diabetes Care Inc will post -1.31 earnings per share for the current fiscal year.
In related news, Director Richard P. Valencia acquired 1,300 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $37.75 per share, for a total transaction of $49,075.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the business’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. Insiders own 9.30% of the company’s stock.
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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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