Acadian Asset Management LLC Purchases Shares of 232,872 Tandem Diabetes Care, Inc. $TNDM

Key Points

• Acadian Asset Management LLC acquired a new position in Tandem Diabetes Care, purchasing 232,872 shares valued at approximately $4.45 million, representing about 0.35% ownership of the company.
• Tandem Diabetes Care reported a loss of $0.48 EPS for the most recent quarter, missing analysts' estimates, but saw an 8.5% increase in revenue year-over-year.
• Several analysts have revised their price targets for Tandem Diabetes Care, with Royal Bank of Canada decreasing its target from $45.00 to $25.00, while Canaccord Genuity set a buy rating with a target of $24.00.

Acadian Asset Management LLC purchased a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 232,872 shares of the medical device company's stock, valued at approximately $4,457,000. Acadian Asset Management LLC owned approximately 0.35% of Tandem Diabetes Care at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC increased its stake in shares of Tandem Diabetes Care by 32.2% in the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock worth $1,456,000 after acquiring an additional 18,529 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Tandem Diabetes Care by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after purchasing an additional 64,467 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Tandem Diabetes Care by 17.9% during 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in Tandem Diabetes Care by 27.1% during 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in Tandem Diabetes Care by 763.3% during the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after purchasing an additional 37,303 shares in the last quarter.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded down $0.67 during trading hours on Friday, reaching $12.57. The company had a trading volume of 2,534,476 shares, compared to its average volume of 1,801,586. The business has a fifty day moving average price of $13.22 and a 200-day moving average price of $17.23. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $47.60. The firm has a market cap of $849.35 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.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly 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). The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The business's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Leigh Vosseller purchased 13,720 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $10.89 per share, with a total value 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 $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the acquisition, 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. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TNDM. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $30.00 to $14.00 in a research note on Thursday, August 7th. Wells Fargo & Company reduced their price objective 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. Citigroup raised their price objective 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. UBS Group reduced their price objective on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Oppenheimer began coverage on shares of Tandem Diabetes Care in a research note on Monday, September 8th. They set an "outperform" rating and a $22.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.44.

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.