Cetera Investment Advisers Boosts Stake in Tandem Diabetes Care, Inc. $TNDM

Cetera Investment Advisers boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,700 shares of the medical device company’s stock after acquiring an additional 4,515 shares during the quarter. Cetera Investment Advisers’ holdings in Tandem Diabetes Care were worth $358,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TNDM. Bank of Montreal Can grew its position in Tandem Diabetes Care by 4.3% during the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after buying an additional 409 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after acquiring an additional 525 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Tandem Diabetes Care by 2.1% in the 4th quarter. Stifel Financial Corp now owns 34,773 shares of the medical device company’s stock worth $1,253,000 after acquiring an additional 701 shares during the period. State of Tennessee Department of Treasury grew its holdings in shares of Tandem Diabetes Care by 4.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 29,836 shares of the medical device company’s stock worth $1,075,000 after acquiring an additional 1,270 shares during the period. Finally, KBC Group NV increased its stake in Tandem Diabetes Care by 0.7% in the 1st quarter. KBC Group NV now owns 193,808 shares of the medical device company’s stock valued at $3,713,000 after purchasing an additional 1,329 shares in the last quarter.

Insider Buying and Selling at Tandem Diabetes Care

In other news, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the completion of the transaction, the chief executive officer owned 106,327 shares in the company, valued at approximately $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Leigh Vosseller acquired 13,720 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the acquisition, the chief financial officer owned 25,580 shares in the company, valued at approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TNDM. Lake Street Capital cut Tandem Diabetes Care from a “buy” rating to a “hold” rating and dropped their price target for the company from $75.00 to $12.00 in a research report on Monday, August 11th. Wells Fargo & Company lowered their price objective on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 7th. Truist Financial started coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They set a “hold” rating and a $24.00 target price for the company. Royal Bank Of Canada reduced their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.67.

Tandem Diabetes Care Stock Up 0.2%

TNDM opened at $10.84 on Tuesday. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $47.60. The business has a 50-day moving average of $16.40 and a two-hundred day moving average of $20.27. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The stock has a market capitalization of $732.46 million, a price-to-earnings ratio of -3.51 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.47) EPS. On average, research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.