State Board of Administration of Florida Retirement System Makes New $4.41 Million Investment in Tempus AI, Inc. $TEM

State Board of Administration of Florida Retirement System bought a new stake in Tempus AI, Inc. (NASDAQ:TEM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,363 shares of the company’s stock, valued at approximately $4,407,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEM. Choreo LLC bought a new stake in shares of Tempus AI in the 2nd quarter worth approximately $204,000. Russell Investments Group Ltd. grew its holdings in Tempus AI by 21.3% during the second quarter. Russell Investments Group Ltd. now owns 6,527 shares of the company’s stock valued at $415,000 after purchasing an additional 1,146 shares during the period. Himension Capital Singapore PTE. LTD. raised its stake in shares of Tempus AI by 40.8% in the second quarter. Himension Capital Singapore PTE. LTD. now owns 29,601 shares of the company’s stock valued at $1,881,000 after buying an additional 8,576 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Tempus AI in the second quarter valued at $617,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Tempus AI by 21.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,083 shares of the company’s stock valued at $1,340,000 after buying an additional 3,706 shares during the last quarter. 24.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TEM shares. HC Wainwright decreased their price objective on Tempus AI from $98.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 7th. Needham & Company LLC increased their target price on shares of Tempus AI from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. BTIG Research lifted their target price on shares of Tempus AI from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Guggenheim upped their price target on shares of Tempus AI from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Piper Sandler cut their price objective on shares of Tempus AI from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $81.17.

Tempus AI Stock Up 1.9%

TEM stock opened at $76.33 on Friday. The stock has a 50-day simple moving average of $82.12 and a two-hundred day simple moving average of $72.84. Tempus AI, Inc. has a twelve month low of $31.36 and a twelve month high of $104.32. The firm has a market capitalization of $13.58 billion, a PE ratio of -64.14 and a beta of 4.99. The company has a quick ratio of 3.12, a current ratio of 3.28 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $334.21 million during the quarter, compared to analyst estimates of $328.89 million. Tempus AI had a negative net margin of 18.45% and a negative return on equity of 73.21%. Tempus AI’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business earned ($0.46) earnings per share. On average, equities analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Activity

In related news, EVP Andrew Polovin sold 12,874 shares of Tempus AI stock in a transaction on Monday, November 24th. The stock was sold at an average price of $75.00, for a total transaction of $965,550.00. Following the completion of the sale, the executive vice president owned 107,590 shares of the company’s stock, valued at approximately $8,069,250. This trade represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ryan Fukushima sold 10,099 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $65.54, for a total value of $661,888.46. Following the completion of the transaction, the chief operating officer owned 829,081 shares in the company, valued at $54,337,968.74. This represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,077,814 shares of company stock valued at $84,592,895 in the last quarter. 26.27% of the stock is currently owned by company insiders.

About Tempus AI

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.