36,900 Shares in Tandem Diabetes Care, Inc. $TNDM Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 36,900 shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) valued at approximately $688,000 in Q2, representing about 0.06% of the company.
• Company CEO John F. Sheridan and CFO Leigh Vosseller both increased their stock holdings significantly, with Sheridan acquiring 10,000 shares and Vosseller buying 13,720 shares.
• Analysts provide mixed ratings on Tandem Diabetes Care with a consensus of "Hold" and an average target price of $21.19, while recent earnings show a revenue increase of 8.5% year-over-year but a loss per share of ($0.48).

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,900 shares of the medical device company's stock, valued at approximately $688,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Tandem Diabetes Care at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TNDM. SG Americas Securities LLC raised its holdings in shares of Tandem Diabetes Care by 366.4% in the 1st quarter. SG Americas Securities LLC now owns 16,353 shares of the medical device company's stock valued at $313,000 after purchasing an additional 12,847 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Tandem Diabetes Care by 27.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock valued at $737,000 after purchasing an additional 8,210 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Tandem Diabetes Care by 17.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 11,048 shares during the period. KBC Group NV raised its holdings in shares of Tandem Diabetes Care by 0.7% in the 1st quarter. KBC Group NV now owns 193,808 shares of the medical device company's stock valued at $3,713,000 after purchasing an additional 1,329 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Tandem Diabetes Care by 17.8% in the 1st quarter. Teacher Retirement System of Texas now owns 32,465 shares of the medical device company's stock valued at $622,000 after purchasing an additional 4,895 shares during the period.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction dated Monday, August 11th. The shares were bought at an average cost of $10.23 per share, with a total value of $102,300.00. Following the completion of the acquisition, the chief executive officer owned 106,327 shares of the company's stock, valued at $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the acquisition, the chief financial officer directly owned 25,580 shares of the company's stock, 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. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TNDM shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $24.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 29th. Barclays dropped their target price on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Piper Sandler cut shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Royal Bank Of Canada dropped their target price on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, Truist Financial set a $16.00 price target on shares of Tandem Diabetes Care and gave the company a "hold" rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.19.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $14.95 on Friday. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $38.28. The stock's 50 day moving average is $13.06 and its 200-day moving average is $16.37. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.84 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) 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 firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same period in the previous year, the company posted ($0.47) EPS. Tandem Diabetes Care's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

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.

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