Capital Fund Management S.A. Trims Stock Holdings in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Capital Fund Management S.A. significantly reduced its stake in Tandem Diabetes Care, Inc., selling 161,420 shares and holding just 38,857 shares by the end of the first quarter.
• Insider trades showed that CEO John F. Sheridan and CFO Leigh Vosseller increased their share ownership, with Sheridan acquiring 10,000 shares and Vosseller purchasing 13,720 shares.
• Tandem Diabetes Care's recent earnings report revealed a loss of ($0.48) EPS, missing estimates, despite a year-over-year revenue increase of 8.5% to $240.68 million.

Capital Fund Management S.A. lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 80.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,857 shares of the medical device company's stock after selling 161,420 shares during the period. Capital Fund Management S.A. owned about 0.06% of Tandem Diabetes Care worth $744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in Tandem Diabetes Care by 32.2% in the first quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock valued at $1,456,000 after purchasing an additional 18,529 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 25.4% in the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after purchasing an additional 64,467 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 17.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 11,048 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Tandem Diabetes Care by 27.1% in the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock valued at $737,000 after purchasing an additional 8,210 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after purchasing an additional 37,303 shares during the last quarter.

Insider Activity

In other news, CEO John F. Sheridan bought 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Leigh Vosseller bought 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 transaction, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. The trade was a 115.68% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $12.24 on Wednesday. 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 firm's 50-day moving average price is $15.26 and its two-hundred day moving average price is $19.35. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $47.60. The stock has a market capitalization of $827.04 million, a P/E ratio of -3.96 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $238.39 million. During the same period in the prior year, the business earned ($0.47) EPS. The business's revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TNDM. Citigroup increased their price target on Tandem Diabetes Care from $10.35 to $11.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Royal Bank Of Canada lowered their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Truist Financial began coverage on Tandem Diabetes Care in a report on Monday, June 16th. They issued a "hold" rating and a $24.00 price objective for the company. Piper Sandler lowered Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Stifel Nicolaus lowered their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Tandem Diabetes Care presently has an average rating of "Hold" and an average price target of $22.47.

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.

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