Banque Pictet & Cie SA Buys Shares of 84,028 Tandem Diabetes Care, Inc. $TNDM

Key Points

• Banque Pictet & Cie SA has acquired a new stake in Tandem Diabetes Care, purchasing 84,028 shares valued at approximately $1,566,000, representing 0.13% of the company's shares.
• Tandem Diabetes Care reported a quarterly loss of ($0.48) EPS, missing estimates by ($0.08), although its revenue increased 8.5% year-over-year to $240.68 million.
• Following recent analyst evaluations, multiple firms have downgraded their target prices for TNDM, with Wells Fargo lowering it from $20.00 to $13.00, and UBS from $20.00 to $17.00.

Banque Pictet & Cie SA bought a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,028 shares of the medical device company's stock, valued at approximately $1,566,000. Banque Pictet & Cie SA owned approximately 0.13% of Tandem Diabetes Care at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNDM. Assetmark Inc. grew its stake in Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. NBC Securities Inc. purchased a new position in Tandem Diabetes Care in the first quarter valued at about $37,000. Brooklyn Investment Group grew its stake in Tandem Diabetes Care by 417.8% in 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 in the last quarter. State of Wyoming grew its stake in 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 valued at $86,000 after purchasing an additional 1,471 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in Tandem Diabetes Care by 819.5% in the first quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company's stock valued at $164,000 after purchasing an additional 7,630 shares in the last quarter.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $12.00 on Friday. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $45.28. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The stock has a market capitalization of $810.83 million, a PE ratio of -3.88 and a beta of 1.45. The stock has a 50-day simple moving average of $12.93 and a 200 day simple moving average of $17.02.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share 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 for the quarter, compared to analyst estimates of $238.39 million. During the same period in the prior year, the firm posted ($0.47) EPS. Tandem Diabetes Care's revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller acquired 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, with a total value of $149,410.80. Following the transaction, the chief financial officer owned 25,580 shares of the company's stock, valued at approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John F. Sheridan acquired 10,000 shares of Tandem Diabetes Care stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. This trade 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 insiders.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Piper Sandler downgraded Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Royal Bank Of Canada decreased their price target on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wall Street Zen downgraded Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, UBS Group decreased their price target on 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. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.44.

Tandem Diabetes Care Company 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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