State of Alaska Department of Revenue Raises Holdings in Tandem Diabetes Care, Inc. $TNDM

State of Alaska Department of Revenue lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 39,660 shares of the medical device company’s stock after acquiring an additional 3,269 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Tandem Diabetes Care worth $739,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Sessa Capital IM L.P. acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth about $85,574,000. GW&K Investment Management LLC lifted its holdings in shares of Tandem Diabetes Care by 34.9% during the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock worth $54,874,000 after purchasing an additional 740,499 shares during the period. Nuveen LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth about $5,907,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth about $4,840,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth about $4,457,000.

Tandem Diabetes Care Stock Down 3.3%

Tandem Diabetes Care stock opened at $14.52 on Wednesday. The stock has a market capitalization of $981.12 million, a PE ratio of -4.70 and a beta of 1.48. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $42.70. The business has a 50 day simple moving average of $12.58 and a 200-day simple moving average of $16.70. 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 (NASDAQ:TNDM) last posted its quarterly earnings data 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). The business 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) earnings per share. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Tandem Diabetes Care news, CEO John F. Sheridan acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was 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 of the company’s stock, valued at $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Leigh Vosseller acquired 13,720 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average price 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. This represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of research reports. Wall Street Zen downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. UBS Group decreased their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Royal Bank Of Canada decreased their target price on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Piper Sandler downgraded Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Lake Street Capital downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $12.00 in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.69.

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.