Farther Finance Advisors LLC Trims Stock Holdings in Tandem Diabetes Care, Inc. $TNDM

Farther Finance Advisors LLC lowered its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 35.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,637 shares of the medical device company’s stock after selling 1,479 shares during the period. Farther Finance Advisors LLC’s holdings in Tandem Diabetes Care were worth $49,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TNDM. Assetmark Inc. lifted its holdings in Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV increased its position in shares of Tandem Diabetes Care by 0.7% during the first quarter. KBC Group NV now owns 193,808 shares of the medical device company’s stock valued at $3,713,000 after buying an additional 1,329 shares during the period. State of Wyoming lifted its holdings in shares of Tandem Diabetes Care by 49.1% in the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after buying an additional 1,471 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Tandem Diabetes Care by 8.0% in the first quarter. Advisors Asset Management Inc. now owns 22,460 shares of the medical device company’s stock valued at $430,000 after acquiring an additional 1,664 shares during the period. Finally, Diversified Trust Co grew its stake in Tandem Diabetes Care by 11.8% during the second quarter. Diversified Trust Co now owns 16,348 shares of the medical device company’s stock valued at $305,000 after acquiring an additional 1,725 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $15.01 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. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $42.70. The business’s 50 day simple moving average is $12.63 and its two-hundred day simple moving average is $16.71. The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.86 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM) last issued 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 return on equity of 65.40% and a negative net margin of 20.51%.The firm had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same quarter in the prior year, the business posted ($0.47) EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, CFO Leigh Vosseller bought 13,720 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares of the company’s stock, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John F. Sheridan purchased 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, August 11th. The shares were 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 $1,087,725.21. This trade 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 owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TNDM. Citigroup increased their target price on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. UBS Group lowered their price objective on 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. Royal Bank Of Canada reduced their target price on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Piper Sandler lowered Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Finally, Barclays dropped their price target on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.44.

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.