BlackRock Fund Advisors has recently announced that it has increased stake in Tandem Diabetes Care Inc. (NASDAQ:TNDM) by 48.73%. After grabbing 8.39 million shares, the institutional investor is now in possession of 2.75 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 13.01% having worth around $332.14 million. Moreover, The Vanguard Group, Inc. increased its share by 0.92 million to have a control over 6.95 million shares. And Capital Research & Management Co raised its holdings to 0.52 million shares by acquiring 6.47 million shares or 10.03% of the stake.
Tandem Diabetes Care Inc. (TNDM) concluded trading on 05/25/23 at a closing price of $26.29, with 1.2 million shares of worth about $31.44 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -29.80% during that period and on Thursday the price saw a loss of about -6.71%. Currently the company’s common shares owned by public are about 64.55M shares, out of which, 62.97M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the TNDM stock and their offered price forecasts bring an average price target of $53.79. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $74.00 and could fall to a lowest price of $33.00. The stock’s current price level is 51.12% above of average price target set by the analysts, while a rise to estimated low would result in gain of 20.33% for the stock. However, touching the estimated high of $74.00 would mean a gain of 64.47% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 121 times over the past 12 months. They bought 70,010 shares in 63 of the transactions. In 58 selling transactions, insiders dumped 54,805 shares.
iShares Core S&P Small Cap ETF, American Funds Small Cap World Fu, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Tandem Diabetes Care Inc. iShares Core S&P Small Cap ETF is currently holding 4.67 million shares of worth totaling $184.86 million. The company recently came selling 6358.0 shares which brought its stake up to 7.24% of the company’s outstanding shares. American Funds Small Cap World Fu bought 1.08 million shares, after which its hold over company’s outstanding shares expand to 6.19%, leaving 4.0 million shares with the mutual fund that have a worth of about $158.16 million. Vanguard Total Stock Market ETF, after buying 2.01 million shares, have now control over 3.12% of the stake in the company. It holds 20061.0 shares of worth $79.68 million.
Tandem Diabetes Care Inc. (NASDAQ: TNDM) started trading at $27.85, below -$0.33 from concluding price of the previous day. However, the stock later moved at a day high price of 27.89, or with a loss of -6.71%. Stock saw a price change of -11.24% in past 5 days and over the past one month there was a price change of -29.89%. Year-to-date (YTD), TNDM shares are showing a performance of -41.51% which decreased to -59.73% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $28.02 but also hit the highest price of $75.47 during that period. The average intraday trading volume for Tandem Diabetes Care Inc. shares is 1.34 million. The stock is currently trading -21.52% below its 20-day simple moving average (SMA20), while that difference is down -30.30% for SMA50 and it goes to -39.50% lower than SMA200.
BlackRock Fund Advisors acquired 8.39 million shares of Tandem Diabetes Care Inc. having value of about $332.14 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 2.75 million shares in the company valued at close to $72282356.96, or have control over 48.73% stake in the company. Tandem Diabetes Care Inc. (NASDAQ: TNDM) currently have 64.55M outstanding shares and institutions hold larger chunk of about 104.88% of that. Holding of mutual funds in the company is about 40.56% while other institutional holders and individual stake holders have control over 66.19% and 0.70% of the stake respectively.
The stock has a current market capitalization of $1.79B and its 3Y-monthly beta is at 0.95. It has posted earnings per share of -$3.16 in the same period. It has Quick Ratio of 3.70 while making debt-to-equity ratio of 0.84. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TNDM, volatility over the week remained 6.47% while standing at 5.62% over the month.
Analysts are in expectations that Tandem Diabetes Care Inc. (TNDM) stock would likely to be making an EPS of -$0.52 in the current quarter, while forecast for next quarter EPS is -$0.09 and it is -$0.52 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.63 which is -$0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.24 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -709.60% while it is estimated to increase by 77.40% in next year.
Analysts at 18 brokerage firms have issued recommendations for the Tandem Diabetes Care Inc. (TNDM)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 18 Wall Street analysts, 8 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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