Deutsche Bank AG Sells 7,607 Shares of Tandem Diabetes Care, Inc. $TNDM

Deutsche Bank AG cut its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,164 shares of the medical device company’s stock after selling 7,607 shares during the period. Deutsche Bank AG owned about 0.08% of Tandem Diabetes Care worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares during the period. NBC Securities Inc. purchased a new position in shares of Tandem Diabetes Care in the first quarter valued at about $37,000. State of Wyoming boosted its stake in shares of Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock worth $108,000 after acquiring an additional 1,467 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Tandem Diabetes Care by 102.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company’s stock worth $141,000 after acquiring an additional 1,977 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth about $205,000.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM opened at $11.93 on Monday. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $47.60. The stock has a market capitalization of $806.11 million, a P/E ratio of -3.86 and a beta of 1.46. The firm has a fifty day simple moving average of $15.58 and a two-hundred day simple moving average of $19.57. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results 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). Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The business had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $238.39 million. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They set a “hold” rating and a $24.00 price objective for the company. Wall Street Zen lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Wells Fargo & Company cut their target price on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Citigroup lifted their price target on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Barclays decreased their price target on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.47.

Insider Buying and Selling

In related news, CEO John F. Sheridan acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the transaction, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Leigh Vosseller bought 13,720 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $10.89 per share, with a total value of $149,410.80. Following 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 position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Tandem Diabetes Care 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.