Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tandem Diabetes Care Inc. shares valued at $656,515 were sold by BERGER DAVID B on Jun 08. At $65.02 per share, BERGER DAVID B sold 10,097 shares. The insider’s holdings dropped to 2,457 shares worth approximately $0.12 million following the completion of this transaction.
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Also, BLICKENSTAFF KIM D sold 10,762 shares, netting a total of over 999,897 in proceeds. Following the sale of shares at $92.91 each, the insider now holds 205,190 shares.
Before that, Sheridan John F had added 2,500 shares to its account. In a trade valued at $174,750, the PRESIDENT & CEO bought Tandem Diabetes Care Inc. shares for $69.90 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $0.49 million.
As published in a research note from Wells Fargo on August 09, 2022, Tandem Diabetes Care Inc. [TNDM] has been rated down from an Overweight to an Underweight and the price target has been revised to $49 from $82. This represents a -0.31% premium over Wednesday’s closing price. As of January 19, 2022, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for TNDM.
Analyzing TNDM’s Price Performance
On Wednesday, Tandem Diabetes Care Inc. [NASDAQ: TNDM] plunged -7.84% to $49.15. The stock’s lowest price that day was $49.06, but it reached a high of $53.715 in the same session. During the last five days, there has been a drop of approximately -15.30%. Over the course of the year, Tandem Diabetes Care Inc. shares have dropped approximately -67.35%. Shares of the company reached a 52-week high of $150.64 on 01/03/22 and a 52-week low of $42.90 on 09/01/22. A 50-day SMA is recorded $55.04, while a 200-day SMA reached $91.18. Nevertheless, trading volume fell to 1.51 million shares from 1.29 million shares the previous day.
Support And Resistance Levels for Tandem Diabetes Care Inc. (TNDM)
According to the 24-hour chart, there is a support level at 47.57, which, if violated, would cause prices to drop to 45.99. In the upper region, resistance lies at 52.22. The next price resistance is at 55.30. RSI (Relative Strength Index) is 42.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.03, which suggests the price will decrease in the coming days. Percent R is at 63.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tandem Diabetes Care Inc. subject to short interest?
Stocks of Tandem Diabetes Care Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.6 million shares to 4.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.9 million shares. A jump of 13.33% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.69.
Which companies own the most shares of Tandem Diabetes Care Inc. (TNDM)?
According to The Vanguard Group, Inc. filings, the company currently owns 6,285,899 shares, which is about 9.79% of the total TNDM shares outstanding. The investor’s shares have appreciated by 64,556 from its previous 13-F filing of 6221343.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $248,151,987. Fidelity Management & Research Co acquire a 5.13% interest valued at $229.4 million while Capital Research & Management Co purchased a 9,925 stake. A total of 1,098,338 shares of Tandem Diabetes Care Inc. were bought by Champlain Investment Partners LLC during the quarter, and 71,291 were bought by Invesco Advisers, Inc. In its current portfolio, SSgA Funds Management, Inc. holds 1,723,164 shares valued at $78.82 million.
In terms of Tandem Diabetes Care Inc. share price expectations, FactSet research, analysts set an average price target of $91.17 in the next 12 months, up nearly 70.64% from the previous closing price of $53.33. Analysts anticipate Tandem Diabetes Care Inc. stock to reach $150.00 by 2022, with the lowest price target being $49.00. In spite of this, 13 analysts ranked Tandem Diabetes Care Inc. stock as an Overweight at the end of 2022. On May 25, 2021, Barclays assigned a price target of “an Underweight” to the stock and initiated coverage with a $90.