Acadian Asset Management LLC Takes Position in 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 bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 232,872 shares of the medical device company's stock, valued at approximately $4,457,000. Acadian Asset Management LLC owned about 0.35% of Tandem Diabetes Care at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TNDM. Assetmark Inc. grew its position in Tandem Diabetes Care by 42.9% in 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 during the last quarter. NBC Securities Inc. acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter worth approximately $37,000. Brooklyn Investment Group grew its holdings in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock valued at $65,000 after purchasing an additional 2,741 shares during the period. State of Wyoming lifted its position 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 purchasing an additional 1,471 shares in the last quarter. Finally, AlphaQuest LLC raised its position in Tandem Diabetes Care by 819.5% during the first quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company's stock worth $164,000 after acquiring an additional 7,630 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $12.27 on Monday. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The company has a market cap of $829.07 million, a PE ratio of -3.97 and a beta of 1.45. The business has a 50 day moving average of $13.58 and a 200 day moving average of $17.47. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $47.60.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TNDM shares. Royal Bank Of Canada decreased their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. 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 report on Friday, August 8th. Canaccord Genuity Group set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a report on Thursday, August 7th. Citigroup upped their price target on Tandem Diabetes Care from $10.35 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Finally, Piper Sandler lowered Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.44.

Insiders Place Their Bets

In other news, CEO John F. Sheridan acquired 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $10.89 per share, with a total value of $149,410.80. Following the acquisition, the chief financial officer owned 25,580 shares of the company's stock, valued at $278,566.20. This 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 corporate insiders.

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.

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