Tandem Diabetes Care, Inc. $TNDM Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 604.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,168 shares of the medical device company’s stock after purchasing an additional 57,635 shares during the quarter. HighTower Advisors LLC owned approximately 0.10% of Tandem Diabetes Care worth $1,287,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TNDM. MetLife Investment Management LLC boosted its position in Tandem Diabetes Care by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 39,688 shares of the medical device company’s stock worth $1,430,000 after acquiring an additional 2,266 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Tandem Diabetes Care by 102.7% during 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 last quarter. State of Tennessee Department of Treasury boosted its position in Tandem Diabetes Care by 4.4% during the fourth 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 last quarter. Stifel Financial Corp boosted its position in Tandem Diabetes Care by 2.1% during the fourth 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 last quarter. Finally, Hsbc Holdings PLC boosted its position in Tandem Diabetes Care by 109.2% during the fourth quarter. Hsbc Holdings PLC now owns 27,779 shares of the medical device company’s stock worth $1,018,000 after acquiring an additional 14,501 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on TNDM. UBS Group lowered their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Canaccord Genuity Group set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Thursday, August 7th. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Truist Financial began coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They set a “hold” rating and a $24.00 price target on the stock. Finally, 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. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average price target of $22.47.

Insider Buying and Selling

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

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $12.11 on Tuesday. 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 firm’s 50-day moving average is $15.42 and its two-hundred day moving average is $19.40. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $47.60. The company has a market capitalization of $818.27 million, a PE ratio of -3.92 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The firm had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $238.39 million. During the same period last year, the firm earned ($0.47) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict 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.