46,304 Shares in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Acquired by Millrace Asset Group Inc.

Millrace Asset Group Inc. purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 46,304 shares of the medical device company's stock, valued at approximately $1,964,000. Tandem Diabetes Care makes up approximately 2.0% of Millrace Asset Group Inc.'s holdings, making the stock its 18th biggest holding. Millrace Asset Group Inc. owned approximately 0.07% of Tandem Diabetes Care at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock valued at $249,732,000 after buying an additional 30,664 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Tandem Diabetes Care by 368.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company's stock valued at $1,108,000 after acquiring an additional 20,549 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Tandem Diabetes Care by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company's stock valued at $11,540,000 after acquiring an additional 66,687 shares during the last quarter. LMR Partners LLP raised its holdings in Tandem Diabetes Care by 235.5% in the 3rd quarter. LMR Partners LLP now owns 33,824 shares of the medical device company's stock valued at $1,434,000 after acquiring an additional 23,743 shares during the last quarter. Finally, abrdn plc acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at about $6,126,000.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on TNDM shares. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They set a "buy" rating and a $57.00 price target for the company. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Finally, Canaccord Genuity Group cut their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.25.

Tandem Diabetes Care Trading Down 1.2 %

TNDM traded down $0.38 during mid-day trading on Tuesday, hitting $30.04. 1,311,516 shares of the stock were exchanged, compared to its average volume of 1,603,749. The firm's fifty day moving average is $35.91 and its two-hundred day moving average is $41.14. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.97 billion, a PE ratio of -15.76 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care's revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.