GSA Capital Partners LLP Invests $2.50 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Key Points

• GSA Capital Partners LLP has acquired a new stake in Tandem Diabetes Care, purchasing 130,595 shares valued at approximately $2.50 million.
• Recent analyst reports have resulted in revised price targets for Tandem Diabetes Care, with Piper Sandler and Robert W. Baird lowering their targets to $30.00 and $24.00 respectively.
• Tandem Diabetes Care reported a revenue increase of 22.3% year-over-year, with quarterly revenue hitting $234.42 million, despite a reported loss per share of ($0.67).

GSA Capital Partners LLP acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 130,595 shares of the medical device company's stock, valued at approximately $2,502,000. Tandem Diabetes Care accounts for approximately 0.2% of GSA Capital Partners LLP's portfolio, making the stock its 27th biggest position. GSA Capital Partners LLP owned 0.20% of Tandem Diabetes Care as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TNDM. Assetmark Inc. increased its position in shares of Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after acquiring an additional 525 shares during the period. NBC Securities Inc. acquired a new position in shares of Tandem Diabetes Care during the first quarter worth $37,000. State of Wyoming grew its stake in shares of Tandem Diabetes Care by 95.9% during the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after purchasing an additional 1,467 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Tandem Diabetes Care by 102.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company's stock worth $141,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Tandem Diabetes Care during the first quarter worth $205,000.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM traded down $0.16 during mid-day trading on Friday, reaching $15.42. The stock had a trading volume of 766,548 shares, compared to its average volume of 1,574,527. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.57 and a beta of 1.48. Tandem Diabetes Care, Inc. has a twelve month low of $14.31 and a twelve month high of $47.60. The business has a 50 day simple moving average of $18.50 and a 200 day simple moving average of $22.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The company had revenue of $234.42 million during the quarter, compared to analysts' expectations of $220.19 million. During the same period last year, the business posted ($0.65) earnings per share. The company's quarterly revenue was up 22.3% 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 fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TNDM. Stifel Nicolaus lowered their target price on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group boosted their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Mizuho started coverage on shares of Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective for the company. Truist Financial started coverage on shares of Tandem Diabetes Care in a research note on Monday, June 16th. They issued a "hold" rating and a $24.00 price objective for the company. Finally, Citigroup restated a "sell" rating and issued a $14.00 price objective (down previously from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $32.71.

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.