Assenagon Asset Management S.A. Buys New Shares in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Assenagon Asset Management S.A. acquired a new stake in Tandem Diabetes Care, buying 31,403 shares valued at approximately $585,000 in the second quarter.
• Insider transactions included CEO John F. Sheridan purchasing 10,000 shares and CFO Leigh Vosseller buying 13,720 shares, indicating increased confidence in the company's future.
• Analysts have downgraded Tandem Diabetes Care's stock, with price targets being cut significantly, reflecting a bearish outlook amidst a consensus rating of "Hold."

Assenagon Asset Management S.A. bought a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,403 shares of the medical device company's stock, valued at approximately $585,000.

Several other institutional investors have also recently added to or reduced their stakes in TNDM. Sessa Capital IM L.P. acquired a new position in Tandem Diabetes Care in the first quarter valued at $85,574,000. GW&K Investment Management LLC grew its position in 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 valued at $54,874,000 after acquiring an additional 740,499 shares during the period. Nuveen LLC purchased a new stake in Tandem Diabetes Care during the first quarter valued at about $5,907,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Tandem Diabetes Care during the first quarter valued at about $4,840,000. Finally, Acadian Asset Management LLC purchased a new stake in Tandem Diabetes Care during the first quarter valued at about $4,457,000.

Insider Activity

In other Tandem Diabetes Care news, CEO John F. Sheridan purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the purchase, the chief executive officer owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Leigh Vosseller purchased 13,720 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the purchase, the chief financial officer owned 25,580 shares of the company's stock, valued at approximately $278,566.20. This represents a 115.68% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TNDM shares. Lake Street Capital downgraded Tandem Diabetes Care from a "buy" rating to a "hold" rating and lowered their price target for the company from $75.00 to $12.00 in a research report on Monday, August 11th. Royal Bank Of Canada lowered their price target on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Barclays lowered their price target on 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. 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 research report on Thursday, August 7th. Finally, Wells Fargo & Company decreased their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.44.

Tandem Diabetes Care Trading Up 0.3%

NASDAQ:TNDM opened at $12.00 on Friday. 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, Inc. has a one year low of $9.98 and a one year high of $45.28. The business's 50-day simple moving average is $12.93 and its 200 day simple moving average is $17.01. The stock has a market cap of $810.84 million, a price-to-earnings ratio of -3.88 and a beta of 1.45.

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

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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