Pacer Advisors Inc. Cuts Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)


Pacer Advisors Inc. lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 83.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,483 shares of the medical device company’s stock after selling 7,551 shares during the period. Pacer Advisors Inc.’s holdings in Tandem Diabetes Care were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. JustInvest LLC purchased a new position in Tandem Diabetes Care in the fourth quarter worth $784,000. BlackRock Inc. lifted its position in shares of Tandem Diabetes Care by 11.6% during the 4th quarter. BlackRock Inc. now owns 6,478,638 shares of the medical device company’s stock valued at $975,164,000 after buying an additional 672,004 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $34,000. Virtu Financial LLC purchased a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $1,035,000. Finally, Castleark Management LLC lifted its position in shares of Tandem Diabetes Care by 138.1% during the 4th quarter. Castleark Management LLC now owns 73,800 shares of the medical device company’s stock valued at $11,108,000 after buying an additional 42,810 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Rebecca B. Robertson sold 1,500 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $96.73, for a total value of $145,095.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David B. Berger sold 10,097 shares of the company’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $65.02, for a total value of $656,506.94. Following the completion of the transaction, the chief operating officer now owns 2,457 shares of the company’s stock, valued at $159,754.14. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 5,000 shares of company stock worth $361,270 and sold 22,607 shares worth $1,829,208. 2.20% of the stock is owned by corporate insiders.

Shares of NASDAQ TNDM opened at $60.99 on Tuesday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 762.47 and a beta of 0.69. The company has a quick ratio of 5.60, a current ratio of 6.21 and a debt -to-equity ratio of 0.64. The stock’s 50-day simple moving average is $74.59 and its two-hundred day simple moving average is $105.41. Tandem Diabetes Care, Inc. has a twelve month low of $52.69 and a twelve month high of $155.86 .

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last announced its earnings results on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter. The business had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. Tandem Diabetes Care’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year , the company earned ($0.07) earnings per share. As a group, research analysts anticipate that Tandem Diabetes Care, Inc. will post 0.35 EPS for the current fiscal year.

A number of brokerages have recently commented on TNDM. Oppenheimer dropped their price target on Tandem Diabetes Care from $142.00 to $130.00 in a research report on Thursday, May 5th. TheStreet cut Tandem Diabetes Care from a “c-” rating to a “d+” rating in a research report on Monday, June 13th. Piper Sandler dropped their price target on Tandem Diabetes Care from $170.00 to $120.00 in a research report on Thursday, May 5th. StockNews.com lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Finally, SVB Leerink reiterated a “market perform” rating on shares of Tandem Diabetes Care in a research note on Monday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.00.

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’s 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.

See Also

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



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