Hodges Capital Management Inc. lessened its holdings in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,000 shares of the medical device company’s stock after selling 1,000 shares during the quarter. Hodges Capital Management Inc.’s holdings in Tandem Diabetes Care were worth $571,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in TNDM. Bank of New York Mellon Corp lifted its position in Tandem Diabetes Care by 314.6% during the second quarter. Bank of New York Mellon Corp now owns 204,679 shares of the medical device company’s stock worth $4,508,000 after purchasing an additional 155,314 shares during the period. Wells Fargo & Company MN lifted its position in Tandem Diabetes Care by 11.3% during the third quarter. Wells Fargo & Company MN now owns 26,968 shares of the medical device company’s stock worth $1,155,000 after purchasing an additional 2,734 shares during the period. Prudential Financial Inc. bought a new stake in Tandem Diabetes Care during the third quarter worth about $235,000. Alliancebernstein L.P. lifted its position in Tandem Diabetes Care by 19.4% during the third quarter. Alliancebernstein L.P. now owns 63,400 shares of the medical device company’s stock worth $2,716,000 after purchasing an additional 10,300 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Tandem Diabetes Care during the third quarter worth about $299,000. 82.60% of the stock is owned by institutional investors.
In other Tandem Diabetes Care news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $62.60, for a total transaction of $125,200.00. Following the completion of the transaction, the executive vice president now owns 3,765 shares of the company’s stock, valued at $235,689. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Sheridan sold 20,000 shares of the business’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $45.26, for a total value of $905,200.00. Following the transaction, the executive vice president now directly owns 20,666 shares of the company’s stock, valued at approximately $935,343.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,300 shares of company stock valued at $21,097,499. Insiders own 9.30% of the company’s stock.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Tuesday, February 26th. The medical device company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.24. The firm had revenue of $76.20 million during the quarter, compared to the consensus estimate of $56.34 million. Tandem Diabetes Care had a negative return on equity of 67.92% and a negative net margin of 66.68%. The business’s quarterly revenue was up 89.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.23) earnings per share. Sell-side analysts forecast that Tandem Diabetes Care Inc will post -0.72 EPS for the current year.
Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Tandem Diabetes Care from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. ValuEngine cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 28th. Oppenheimer upped their price objective on shares of Tandem Diabetes Care from $57.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Cowen upped their price objective on shares of Tandem Diabetes Care from $40.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Finally, Craig Hallum boosted their target price on Tandem Diabetes Care from $59.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Tandem Diabetes Care presently has an average rating of “Buy” and an average price target of $59.43.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://sportsperspectives.com/2019/04/17/hodges-capital-management-inc-sells-1000-shares-of-tandem-diabetes-care-inc-tndm.html.
About Tandem Diabetes Care
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.
Further Reading: The risks of owning bonds
Want to see what other hedge funds are holding TNDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tandem Diabetes Care Inc (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.