Bayforest Capital Ltd Has $173,000 Stock Position in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Bayforest Capital Ltd significantly reduced its position in Tandem Diabetes Care by 64.7%, now holding 9,271 shares worth approximately $173,000.
• CEO John F. Sheridan and CFO Leigh Vosseller both made substantial purchases of company stock, increasing their holdings by 10.38% and 115.68%, respectively.
• Tandem Diabetes Care's recent quarterly earnings missed estimates, reporting a net loss of $0.48 per share but revenue of $240.68 million, marking an 8.5% year-over-year increase.

Bayforest Capital Ltd lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 64.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,271 shares of the medical device company's stock after selling 17,017 shares during the period. Bayforest Capital Ltd's holdings in Tandem Diabetes Care were worth $173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TNDM. Assetmark Inc. boosted its position 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 buying an additional 525 shares in the last quarter. CWM LLC lifted its holdings in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock worth $52,000 after purchasing an additional 2,025 shares during the period. Brooklyn Investment Group lifted its holdings in shares of 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 worth $65,000 after purchasing an additional 2,741 shares during the period. State of Wyoming lifted its holdings in shares of Tandem Diabetes Care by 49.1% during 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 during the period. Finally, AlphaQuest LLC lifted its holdings in shares of 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 purchasing an additional 7,630 shares during the period.

Insider Buying and Selling at Tandem Diabetes Care

In related news, CEO John F. Sheridan purchased 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Leigh Vosseller purchased 13,720 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of 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.

Tandem Diabetes Care Price Performance

TNDM stock opened at $15.29 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -4.95 and a beta of 1.48. 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, Inc. has a 12-month low of $9.98 and a 12-month high of $38.28. The company's fifty day simple moving average is $12.55 and its 200 day simple moving average is $16.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results 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 net margin of 20.51% and a negative return on equity of 65.40%. The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same period last year, the firm posted ($0.47) earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of recent research reports. Royal Bank Of Canada cut 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 report on Thursday, August 7th. Citigroup reiterated a "neutral" rating and set a $15.00 price target (up previously from $11.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 7th. Wells Fargo & Company cut their price target on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. UBS Group cut their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Barclays dropped their target price on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $22.19.

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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