Kingdon Capital Management L.L.C. Has $9.49 Million Stock Holdings in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Kingdon Capital Management L.L.C. has reduced its stake in Tandem Diabetes Care, Inc. by 37.4%, now holding approximately 495,229 shares worth $9.49 million.
• Insider activity showed CFO Leigh Vosseller purchased 13,720 shares, increasing their position by 115.68%, while CEO John F. Sheridan bought 10,000 shares, raising their stake by 10.38%.
• Tandem Diabetes Care reported a Q2 loss of ($0.48) EPS, missing estimates, but achieved a year-over-year revenue increase of 8.5%, totaling $240.68 million.

Kingdon Capital Management L.L.C. lowered its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 37.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 495,229 shares of the medical device company's stock after selling 295,318 shares during the period. Tandem Diabetes Care makes up 1.0% of Kingdon Capital Management L.L.C.'s portfolio, making the stock its 26th biggest position. Kingdon Capital Management L.L.C. owned approximately 0.74% of Tandem Diabetes Care worth $9,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. increased its holdings in shares of Tandem Diabetes Care by 42.9% in 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 in the last quarter. Stifel Financial Corp grew its position in shares of Tandem Diabetes Care by 2.1% in the 4th quarter. Stifel Financial Corp now owns 34,773 shares of the medical device company's stock valued at $1,253,000 after purchasing an additional 701 shares during the period. Cetera Investment Advisers raised its holdings in Tandem Diabetes Care by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 14,185 shares of the medical device company's stock worth $511,000 after buying an additional 981 shares during the period. State of Tennessee Department of Treasury lifted its stake in Tandem Diabetes Care by 4.4% in the fourth quarter. State of Tennessee Department of Treasury now owns 29,836 shares of the medical device company's stock valued at $1,075,000 after buying an additional 1,270 shares in the last quarter. Finally, KBC Group NV lifted its stake in Tandem Diabetes Care by 0.7% in the first quarter. KBC Group NV now owns 193,808 shares of the medical device company's stock valued at $3,713,000 after buying an additional 1,329 shares in the last quarter.

Tandem Diabetes Care Stock Up 2.2%

Shares of NASDAQ:TNDM traded up $0.27 during midday trading on Tuesday, reaching $12.78. The company had a trading volume of 1,923,536 shares, compared to its average volume of 1,736,615. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $47.60. The stock has a market cap of $863.53 million, a PE ratio of -4.14 and a beta of 1.45. 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 business's 50 day moving average price is $14.47 and its 200 day moving average price is $18.61.

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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $30.00 to $14.00 in a report on Thursday, August 7th. Royal Bank Of Canada lowered their target price 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. Barclays dropped their price target on 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. Canaccord Genuity Group set a $24.00 target price on Tandem Diabetes Care and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Lake Street Capital cut Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their target price for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has an average rating of "Hold" and a consensus price target of $22.47.

Insider Buying and Selling at Tandem Diabetes Care

In other news, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John F. Sheridan bought 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Company 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.