Charles Schwab Investment Management Inc. Sells 32,171 Shares of Tandem Diabetes Care, Inc. $TNDM

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Tandem Diabetes Care, selling 32,171 shares, bringing its ownership to approximately 0.86% with a value of $10.9 million.
• Tandem Diabetes Care reported a quarterly loss of ($0.48) earnings per share, which missed analyst expectations, but its revenue for the quarter was $240.68 million, slightly above projections.
• Insider purchases include CFO Leigh Vosseller acquiring 13,720 shares and CEO John F. Sheridan purchasing 10,000 shares, indicating confidence in the company's future performance.

Charles Schwab Investment Management Inc. decreased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 570,150 shares of the medical device company's stock after selling 32,171 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.86% of Tandem Diabetes Care worth $10,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TNDM. Jacobs Levy Equity Management Inc. grew its position in shares of Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock worth $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth $32,889,000. GW&K Investment Management LLC grew its position in shares of Tandem Diabetes Care by 34.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock worth $54,874,000 after buying an additional 740,499 shares in the last quarter. Park West Asset Management LLC boosted its position in Tandem Diabetes Care by 49.5% during the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company's stock valued at $57,632,000 after purchasing an additional 530,000 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in Tandem Diabetes Care by 14.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after purchasing an additional 337,026 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $11.93 on Monday. 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 company has a market cap of $806.11 million, a PE ratio of -3.86 and a beta of 1.46. The business has a 50-day simple moving average of $15.58 and a two-hundred day simple moving average of $19.57. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued 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). The business had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.Tandem Diabetes Care's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 13,720 shares of the stock in a transaction 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 completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $10.23 per share, with a total value of $102,300.00. Following the acquisition, the chief executive officer owned 106,327 shares of the company's stock, valued at approximately $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 company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group set a $24.00 price objective on Tandem Diabetes Care and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. UBS Group dropped their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada dropped their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Barclays dropped their price objective on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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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