Algert Global LLC Has $4.01 Million Holdings in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Algert Global LLC significantly increased its stake in Tandem Diabetes Care, acquiring an additional 119,784 shares, bringing its total ownership to 209,320 shares worth approximately $4 million.
• Insider transactions showed CEO John F. Sheridan and CFO Leigh Vosseller purchasing substantial number of shares, indicating increased confidence in the company, with Sheridan's ownership growing by 10.38% and Vosseller's by 115.68%.
• Analysts have shown mixed sentiment, with price targets for Tandem Diabetes Care being lowered by several firms, indicating challenges ahead as the consensus rating is now a "Hold".

Algert Global LLC lifted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 133.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,320 shares of the medical device company's stock after buying an additional 119,784 shares during the period. Algert Global LLC owned approximately 0.31% of Tandem Diabetes Care worth $4,011,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Assetmark Inc. boosted its holdings 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 acquiring an additional 525 shares during the period. NBC Securities Inc. purchased a new position in Tandem Diabetes Care in the first quarter valued at about $37,000. State of Wyoming boosted its holdings in Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock valued at $108,000 after purchasing an additional 1,467 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tandem Diabetes Care by 102.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company's stock worth $141,000 after buying an additional 1,977 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of Tandem Diabetes Care in the first quarter worth $205,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Citigroup increased their target price on Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a report on Thursday. Piper Sandler lowered Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $30.00 to $14.00 in a research report on Thursday, August 7th. Canaccord Genuity Group set a $24.00 target price on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Robert W. Baird decreased their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.47.

Tandem Diabetes Care Stock Performance

TNDM stock traded up $0.88 during trading on Friday, reaching $11.93. 2,188,809 shares of the company's stock were exchanged, compared to its average volume of 2,775,918. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $47.60. The firm has a market cap of $806.10 million, a PE ratio of -3.86 and a beta of 1.46. The company's fifty day moving average price is $15.58 and its 200-day moving average price is $19.68. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $240.68 million for the quarter, compared to the consensus estimate of $238.39 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Tandem Diabetes Care's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Transactions at Tandem Diabetes Care

In related news, CFO Leigh Vosseller bought 13,720 shares of Tandem Diabetes Care stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost 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 in the company, valued at approximately $278,566.20. This trade represents a 115.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John F. Sheridan purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.