DAFNA Capital Management LLC Buys 71,000 Shares of Tandem Diabetes Care, Inc. $TNDM

Key Points

• DAFNA Capital Management LLC increased its stake in Tandem Diabetes Care by 31.8%, acquiring an additional 71,000 shares during the first quarter, bringing its total ownership to 294,208 shares.
• CEO John F. Sheridan and CFO Leigh Vosseller made significant personal investments in the company, with Sheridan buying 10,000 shares and Vosseller purchasing 13,720 shares, reflecting confidence in Tandem's prospects.
• Despite revenue growth of 8.5% year-over-year, Tandem Diabetes Care reported a loss in its latest earnings results, missing expectations with an EPS of ($0.48).

DAFNA Capital Management LLC increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 31.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,208 shares of the medical device company's stock after buying an additional 71,000 shares during the quarter. Tandem Diabetes Care comprises approximately 1.6% of DAFNA Capital Management LLC's holdings, making the stock its 17th largest position. DAFNA Capital Management LLC owned approximately 0.44% of Tandem Diabetes Care worth $5,637,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State of Wyoming lifted its holdings in shares of 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 buying an additional 1,471 shares during the period. Landscape Capital Management L.L.C. raised its position in shares of Tandem Diabetes Care by 83.1% during the first quarter. Landscape Capital Management L.L.C. now owns 35,942 shares of the medical device company's stock worth $689,000 after purchasing an additional 16,307 shares during the period. Comerica Bank raised its position in shares of Tandem Diabetes Care by 6.2% during the first quarter. Comerica Bank now owns 29,692 shares of the medical device company's stock worth $569,000 after purchasing an additional 1,739 shares during the period. AlphaQuest LLC raised its position 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. Finally, Brooklyn Investment Group raised its position 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TNDM shares. Lake Street Capital lowered Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their target price for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Canaccord Genuity Group set a $24.00 target price on Tandem Diabetes Care and gave the stock a "buy" rating in a research report on Thursday, August 7th. Piper Sandler lowered Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Citigroup upped their price target on Tandem Diabetes Care from $10.35 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Finally, Truist Financial started coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They set a "hold" rating and a $24.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.47.

Insider Activity

In other news, CEO John F. Sheridan bought 10,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average cost 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Leigh Vosseller bought 13,720 shares of the company's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the transaction, the chief financial officer owned 25,580 shares in the company, valued at approximately $278,566.20. The trade was a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM traded up $0.27 during trading hours on Tuesday, hitting $12.78. 1,923,536 shares of the company's stock traded hands, compared to its average volume of 2,768,299. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $47.60. 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 stock's fifty day moving average price is $14.47 and its two-hundred day moving average price is $18.61.

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 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 firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same period in the previous year, the company earned ($0.47) earnings per share. The business's revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.