Salem Investment Counselors Inc. Raises Stock Holdings in Tempus AI, Inc. $TEM

Salem Investment Counselors Inc. boosted its holdings in Tempus AI, Inc. (NASDAQ:TEM) by 8,020.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,450 shares of the company’s stock after purchasing an additional 30,075 shares during the period. Salem Investment Counselors Inc.’s holdings in Tempus AI were worth $1,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cherry Tree Wealth Management LLC bought a new position in Tempus AI during the 1st quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new position in Tempus AI during the 1st quarter worth approximately $33,000. Continuum Advisory LLC bought a new position in Tempus AI during the 1st quarter worth approximately $39,000. Bartlett & CO. Wealth Management LLC lifted its holdings in Tempus AI by 100.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new position in Tempus AI during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Stock Down 2.7%

Shares of Tempus AI stock opened at $86.38 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.43 and a debt-to-equity ratio of 2.58. The business’s 50 day simple moving average is $67.61 and its 200-day simple moving average is $59.59. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of -72.59 and a beta of 5.08. Tempus AI, Inc. has a twelve month low of $31.36 and a twelve month high of $91.45.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%.The business had revenue of $314.64 million for the quarter, compared to analysts’ expectations of $296.84 million. During the same period in the prior year, the firm earned ($6.86) EPS. The business’s quarterly revenue was up 89.5% on a year-over-year basis. Tempus AI has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Guggenheim increased their target price on Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Bank of America increased their target price on Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Morgan Stanley increased their target price on Tempus AI from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. BTIG Research increased their target price on Tempus AI from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Tempus AI in a research report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.17.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 332,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $74.10, for a total value of $24,638,250.00. Following the sale, the chief executive officer directly owned 9,207,533 shares in the company, valued at $682,278,195.30. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Polovin sold 5,398 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $74.65, for a total value of $402,960.70. Following the completion of the sale, the executive vice president owned 132,056 shares in the company, valued at approximately $9,857,980.40. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 903,104 shares of company stock worth $63,733,330 over the last quarter. Insiders own 26.27% of the company’s stock.

Tempus AI Profile

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.