Westpac Banking Corp Has $6.23 Million Holdings in Tandem Diabetes Care Inc (NASDAQ:TNDM)

Share on StockTwits

Westpac Banking Corp cut its holdings in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 42.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 98,117 shares of the medical device company’s stock after selling 71,900 shares during the period. Westpac Banking Corp’s holdings in Tandem Diabetes Care were worth $6,230,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Tandem Diabetes Care by 250.1% during the fourth quarter. Bank of America Corp DE now owns 121,451 shares of the medical device company’s stock worth $4,613,000 after purchasing an additional 86,763 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Tandem Diabetes Care by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 79,809 shares of the medical device company’s stock worth $3,030,000 after purchasing an additional 1,800 shares during the last quarter. Orbimed Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 32.7% during the fourth quarter. Orbimed Advisors LLC now owns 948,000 shares of the medical device company’s stock worth $35,996,000 after purchasing an additional 233,500 shares during the last quarter. Tarbox Family Office Inc. grew its holdings in shares of Tandem Diabetes Care by 11.6% during the first quarter. Tarbox Family Office Inc. now owns 5,780 shares of the medical device company’s stock worth $367,000 after purchasing an additional 600 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Tandem Diabetes Care by 22,208.0% during the fourth quarter. Macquarie Group Ltd. now owns 111,540 shares of the medical device company’s stock worth $4,235,000 after purchasing an additional 111,040 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.

In other Tandem Diabetes Care news, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $62.60, for a total value of $125,200.00. Following the sale, the executive vice president now owns 3,765 shares of the company’s stock, valued at approximately $235,689. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dick Allen sold 17,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.34, for a total value of $1,042,780.00. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $2,785,580 in the last ninety days. 6.90% of the stock is owned by corporate insiders.

Shares of NASDAQ TNDM traded down $5.50 during midday trading on Friday, reaching $63.58. 4,086,268 shares of the company were exchanged, compared to its average volume of 1,313,088. The company has a quick ratio of 2.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.09. Tandem Diabetes Care Inc has a 1 year low of $18.10 and a 1 year high of $74.81. The firm has a market cap of $4.01 billion, a P/E ratio of -24.93 and a beta of 0.51.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The business had revenue of $66.00 million during the quarter, compared to analysts’ expectations of $47.55 million. During the same period in the prior year, the firm posted ($1.82) EPS. Tandem Diabetes Care’s revenue for the quarter was up 141.9% compared to the same quarter last year. As a group, analysts anticipate that Tandem Diabetes Care Inc will post -0.81 earnings per share for the current year.

Several brokerages have issued reports on TNDM. Bank of America raised their price objective on Tandem Diabetes Care from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. ValuEngine raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 15th. Svb Leerink began coverage on Tandem Diabetes Care in a report on Monday, May 13th. They set an “outperform” rating and a $83.00 price objective on the stock. BidaskClub lowered Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets started coverage on Tandem Diabetes Care in a report on Friday, March 8th. They set an “outperform” rating and a $77.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.13.

COPYRIGHT VIOLATION NOTICE: “Westpac Banking Corp Has $6.23 Million Holdings in Tandem Diabetes Care Inc (NASDAQ:TNDM)” was originally published by Highlight Press and is the sole property of of Highlight Press. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://highlightpress.com/2019/06/15/westpac-banking-corp-has-6-23-million-holdings-in-tandem-diabetes-care-inc-nasdaqtndm.html.

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.

Further Reading: Special Dividends

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).

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.