Tandem Diabetes Care, Inc. $TNDM Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,698 shares of the medical device company’s stock after buying an additional 38,519 shares during the period. Voya Investment Management LLC owned about 0.21% of Tandem Diabetes Care worth $2,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in shares of Tandem Diabetes Care in the 1st quarter worth about $343,000. Acadian Asset Management LLC acquired a new position in Tandem Diabetes Care during the 1st quarter valued at about $4,457,000. Bayforest Capital Ltd boosted its stake in Tandem Diabetes Care by 197.0% during the 1st quarter. Bayforest Capital Ltd now owns 26,288 shares of the medical device company’s stock valued at $504,000 after purchasing an additional 17,436 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Tandem Diabetes Care by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,993 shares of the medical device company’s stock valued at $3,717,000 after purchasing an additional 16,254 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after purchasing an additional 34,069 shares during the period.

Tandem Diabetes Care Stock Down 5.1%

Tandem Diabetes Care stock opened at $12.57 on Friday. The firm has a market cap of $849.34 million, a PE ratio of -4.07 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The firm’s 50 day moving average price is $13.22 and its two-hundred day moving average price is $17.21. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share 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 analyst estimates 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) EPS. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. 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 for the company in a research note 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 note on Thursday, August 7th. Wells Fargo & Company reduced their price target 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. Finally, Barclays reduced their price target on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Hold” and a consensus price target of $22.44.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller bought 13,720 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of the transaction, the chief financial officer directly owned 25,580 shares of the company’s stock, valued at approximately $278,566.20. The trade was a 115.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John F. Sheridan bought 10,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $10.23 per share, with a total value of $102,300.00. Following the completion of the transaction, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.