Westpac Banking Corp cut its position in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,117 shares of the medical device company’s stock after selling 7,000 shares during the quarter. Westpac Banking Corp’s holdings in Tandem Diabetes Care were worth $5,879,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TNDM. Nisa Investment Advisors LLC boosted its holdings in Tandem Diabetes Care by 53.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 160 shares during the period. James Investment Research Inc. boosted its holdings in Tandem Diabetes Care by 15.9% in the 2nd quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock valued at $85,000 after purchasing an additional 180 shares during the period. Rhumbline Advisers boosted its holdings in Tandem Diabetes Care by 0.3% in the 1st quarter. Rhumbline Advisers now owns 68,183 shares of the medical device company’s stock valued at $4,330,000 after purchasing an additional 202 shares during the period. Meeder Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 11.3% in the 1st quarter. Meeder Asset Management Inc. now owns 4,475 shares of the medical device company’s stock valued at $284,000 after purchasing an additional 456 shares during the period. Finally, Bremer Bank National Association bought a new stake in Tandem Diabetes Care in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 79.75% of the company’s stock.

In other news, Director Edward L. Cahill sold 1,417 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.03, for a total transaction of $89,313.51. Following the completion of the transaction, the director now directly owns 5,399 shares of the company’s stock, valued at approximately $340,298.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David B. Berger sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $67.76, for a total transaction of $135,520.00. Following the transaction, the executive vice president now directly owns 5,311 shares of the company’s stock, valued at $359,873.36. The disclosure for this sale can be found here. Insiders have sold a total of 108,954 shares of company stock valued at $7,398,525 over the last ninety days. 6.90% of the stock is owned by insiders.

A number of analysts have weighed in on TNDM shares. Leerink Swann started coverage on shares of Tandem Diabetes Care in a report on Monday, May 13th. They issued an “outperform” rating and a $83.00 price target for the company. Craig Hallum reissued a “buy” rating and issued a $84.00 price target (up from $70.00) on shares of Tandem Diabetes Care in a report on Wednesday, May 1st. Stifel Nicolaus increased their price target on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. ValuEngine raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Oppenheimer increased their price target on shares of Tandem Diabetes Care from $80.00 to $84.00 in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $68.38.

Shares of NASDAQ:TNDM traded up $0.84 during midday trading on Friday, reaching $57.95. 20,875 shares of the company’s stock were exchanged, compared to its average volume of 1,445,116. The company’s 50 day simple moving average is $63.64 and its two-hundred day simple moving average is $62.33. The firm has a market capitalization of $3.72 billion, a PE ratio of -22.76 and a beta of 0.33. Tandem Diabetes Care Inc has a 12 month low of $26.40 and a 12 month high of $74.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.21 and a current ratio of 2.53.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.20. The company had revenue of $93.26 million during the quarter, compared to the consensus estimate of $69.95 million. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The firm’s revenue for the quarter was up 173.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.33) EPS. On average, research analysts anticipate that Tandem Diabetes Care Inc will post -0.65 earnings per share for the current year.

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

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