6,256 Shares in Tandem Diabetes Care Inc (NASDAQ:TNDM) Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. bought a new position in Tandem Diabetes Care Inc (NASDAQ:TNDM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,256 shares of the medical device company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also bought and sold shares of TNDM. BlackRock Inc. increased its stake in shares of Tandem Diabetes Care by 6,936.3% in the second quarter. BlackRock Inc. now owns 2,935,537 shares of the medical device company’s stock worth $64,641,000 after purchasing an additional 2,893,817 shares in the last quarter. Fred Alger Management Inc. boosted its position in shares of Tandem Diabetes Care by 9,750.9% in the second quarter. Fred Alger Management Inc. now owns 1,970,184 shares of the medical device company’s stock valued at $43,383,000 after acquiring an additional 1,950,184 shares during the period. Orbimed Advisors LLC bought a new position in shares of Tandem Diabetes Care in the second quarter valued at approximately $37,192,000. Point72 Asset Management L.P. bought a new position in shares of Tandem Diabetes Care in the second quarter valued at approximately $27,296,000. Finally, Millennium Management LLC bought a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $4,225,000. Hedge funds and other institutional investors own 71.60% of the company’s stock.

A number of equities analysts have recently commented on TNDM shares. Dougherty & Co initiated coverage on shares of Tandem Diabetes Care in a research report on Friday, August 24th. They issued a “buy” rating and a $45.00 price objective for the company. Berenberg Bank initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 30th. They set a “buy” rating and a $50.00 target price for the company. Oppenheimer set a $38.00 target price on shares of Tandem Diabetes Care and gave the company a “buy” rating in a research report on Monday, August 6th. Lake Street Capital lifted their target price on shares of Tandem Diabetes Care from $35.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Finally, Craig Hallum initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, September 20th. They set a “buy” rating and a $52.00 target price for the company. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.75.

In other Tandem Diabetes Care news, Director Richard P. Valencia bought 1,300 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $37.75 per share, for a total transaction of $49,075.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was 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. 9.30% of the stock is owned by insiders.

Shares of TNDM traded up $1.46 during mid-day trading on Monday, reaching $38.28. The company’s stock had a trading volume of 1,593,954 shares, compared to its average volume of 2,386,779. Tandem Diabetes Care Inc has a 52 week low of $2.14 and a 52 week high of $52.55. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -2.97 and a beta of 0.52.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 1st. The medical device company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative return on equity of 204.32% and a negative net margin of 93.07%. The firm had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $42.71 million. During the same period in the previous year, the firm earned ($3.09) earnings per share. The firm’s quarterly revenue was up 71.5% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care Inc will post -1.31 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “6,256 Shares in Tandem Diabetes Care Inc (NASDAQ:TNDM) Purchased by Oppenheimer & Co. Inc.” was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.baseballdailydigest.com/news/2018/12/03/oppenheimer-co-inc-buys-new-stake-in-tandem-diabetes-care-inc-tndm.html.

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.

Read More: How to read a candlestick chart

Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

Receive News & Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply