JPMorgan Chase & Co. decreased its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ: TNDM – Get Rating) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,937 shares of the medical device company stock after selling 53,806 shares during the period. JPMorgan Chase & Co. owned about 0.15% of Tandem Diabetes Care worth $ 14,291,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Securian Asset Management Inc. lifted its position in Tandem Diabetes Care by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 5,752 shares of the medical device company stock valued at $ 866,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in Tandem Diabetes Care by 1.2% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,532 shares of the medical device company stock valued at $ 1,585,000 after purchasing an additional 120 shares during the period. Commonwealth Equity Services LLC lifted its position in Tandem Diabetes Care by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,924 shares of the medical device company stock valued at $ 1,493,000 after purchasing an additional 137 shares during the period. MML Investors Services LLC lifted its position in Tandem Diabetes Care by 6.3% during the third quarter. MML Investors Services LLC now owns 2,563 shares of the medical device company stock valued at $ 306,000 after purchasing an additional 151 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Tandem Diabetes Care by 1.2% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the medical device company stock valued at $ 2,453,000 after purchasing an additional 200 shares during the period. Institutional investors own 94.62% of the company stock.
In other news, CEO John F. Sheridan purchased 2,500 shares of the company stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $ 69.90 per share, with a total value of $ 174,750.00. Following the purchase, the chief executive officer now owns 10,058 shares in the company, valued at $ 703,054.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Twomey sold 248 shares of Tandem Diabetes Care stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $ 111.73, for a total transaction of $ 27,709.04. Following the transaction, the director now directly owns 5,112 shares of the company stock, valued at $ 571,163.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 5,000 shares of company stock valued at $ 361,270 and have sold 17,915 shares valued at $ 1,757,481. Company insiders own 2.20% of the company stock.
TNDM opened at $ 67.17 on Friday. The stock has a market capitalization of $ 4.30 billion, a price-to-earnings ratio of 839.73 and a beta of 0.69. The company has a fifty day moving average of $ 94.35 and a 200 day moving average of $ 114.56. Tandem Diabetes Care, Inc. has a fifty-two week low of $ 60.25 and a fifty-two week high of $ 155.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.60 and a current ratio of 6.21.
Tandem Diabetes Care (NASDAQ: TNDM – Get Rating) last posted its earnings results on Wednesday, May 4th. The medical device company reported ($ 0.23) earnings per share for the quarter. The company had revenue of $ 175.91 million for the quarter, compared to analysts’ expectations of $ 168.21 million. Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the business posted ($ 0.07) earnings per share. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post 0.36 earnings per share for the current year.
Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler decreased their price target on shares of Tandem Diabetes Care from $ 170.00 to $ 120.00 in a research report on Thursday, May 5th. Wells Fargo & Company increased their price target on shares of Tandem Diabetes Care from $ 160.00 to $ 166.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 23rd. Oppenheimer decreased their price objective on shares of Tandem Diabetes Care from $ 142.00 to $ 130.00 in a research report on Thursday, May 5th. Finally, Citigroup decreased their price objective on shares of Tandem Diabetes Care from $ 155.00 to $ 130.00 in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Buy” and an average target price of $ 139.80.
About Tandem Diabetes Care: (Get Rating)
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company flagship product is the t: slim X2 insulin delivery system, a pump platform that comprises t: slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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