Fred Alger Management LLC Trims Stock Holdings in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Fred Alger Management LLC has reduced its stake in Tandem Diabetes Care by 25.2%, selling 489,117 shares to hold approximately 2.18% of the company valued at $27.86 million.
• CEO John F. Sheridan and CFO Leigh Vosseller both made significant insider purchases of Tandem shares, indicating confidence in the company's future; Sheridan bought 10,000 shares while Vosseller purchased 13,720 shares.
• The company's latest earnings report showed a loss of ($0.48) earnings per share, missing estimates, but revenue increased by 8.5% year-over-year, totaling $240.68 million.

Fred Alger Management LLC decreased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 25.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,454,239 shares of the medical device company's stock after selling 489,117 shares during the quarter. Fred Alger Management LLC owned 2.18% of Tandem Diabetes Care worth $27,863,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TNDM. Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at $85,574,000. GW&K Investment Management LLC grew its stake in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after acquiring an additional 740,499 shares during the period. Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 9.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company's stock valued at $32,704,000 after acquiring an additional 151,106 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after acquiring an additional 1,086,337 shares during the period. Finally, Jennison Associates LLC grew its stake in Tandem Diabetes Care by 0.7% in the 1st quarter. Jennison Associates LLC now owns 1,477,108 shares of the medical device company's stock valued at $28,301,000 after acquiring an additional 10,753 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Lake Street Capital cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and dropped their price target for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Barclays dropped their price target on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company dropped 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 research note on Thursday, August 7th. Wall Street Zen lowered Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, Royal Bank Of Canada decreased their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Hold" and a consensus target price of $22.44.

Insider Buying and Selling at Tandem Diabetes Care

In related news, CFO Leigh Vosseller purchased 13,720 shares of Tandem Diabetes Care stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the acquisition, the chief financial officer directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Sheridan purchased 10,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the acquisition, 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 disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Tandem Diabetes Care Trading Down 4.1%

Shares of NASDAQ TNDM traded down $0.52 during trading on Friday, hitting $12.27. 2,114,656 shares of the company were exchanged, compared to its average volume of 1,771,957. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $47.60. 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 fifty day moving average price of $13.58 and a 200-day moving average price of $17.50. The firm has a market capitalization of $829.08 million, a PE ratio of -3.97 and a beta of 1.45.

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) EPS 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 company had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. During the same quarter in the prior year, the firm earned ($0.47) EPS. The firm's revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

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.