Vanguard Group Inc. Reduces Holdings in Tandem Diabetes Care, Inc. $TNDM

Vanguard Group Inc. trimmed its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,292,169 shares of the medical device company’s stock after selling 147,836 shares during the quarter. Vanguard Group Inc. owned approximately 10.95% of Tandem Diabetes Care worth $139,718,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in TNDM. Hood River Capital Management LLC purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $46,035,000. Jacobs Levy Equity Management Inc. grew its holdings in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $32,889,000. GW&K Investment Management LLC grew its holdings in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after buying an additional 740,499 shares in the last quarter. Finally, Park West Asset Management LLC grew its holdings in Tandem Diabetes Care by 49.5% in the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock valued at $57,632,000 after buying an additional 530,000 shares in the last quarter.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller acquired 13,720 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the acquisition, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. The trade was a 115.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Barclays dropped their target price on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Piper Sandler downgraded Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Canaccord Genuity Group set a $24.00 price objective on shares of Tandem Diabetes Care and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company decreased their target price on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.67.

Tandem Diabetes Care Price Performance

TNDM opened at $10.68 on Thursday. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The firm has a market cap of $721.65 million, a price-to-earnings ratio of -3.46 and a beta of 1.46. The stock’s 50-day moving average price is $15.95 and its 200 day moving average price is $20.14. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.47) EPS. As a group, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

About Tandem Diabetes Care

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.