Mizuho Markets Americas LLC Boosts Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Key Points

• Mizuho Markets Americas LLC increased its stake in Tandem Diabetes Care by 36.1%, owning 115,772 shares worth approximately $2.22 million as of the latest SEC filing.
• Wall Street analysts have mixed outlooks on Tandem Diabetes Care, with target prices ranging from $13.00 to $51.00, while the stock has a consensus rating of "Hold" and an average price target of $23.43.
• Tandem Diabetes Care reported a loss of ($0.48) earnings per share, missing estimates, but saw a revenue increase of 8.5% year-over-year to $240.68 million.

Mizuho Markets Americas LLC increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 36.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 115,772 shares of the medical device company's stock after acquiring an additional 30,680 shares during the period. Mizuho Markets Americas LLC owned about 0.17% of Tandem Diabetes Care worth $2,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Tandem Diabetes Care by 25.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 644,988 shares of the medical device company's stock worth $12,358,000 after acquiring an additional 129,926 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in Tandem Diabetes Care during the 1st quarter worth $3,169,000. Jupiter Asset Management Ltd. purchased a new position in Tandem Diabetes Care during the 1st quarter worth $1,683,000. Commerce Bank increased its holdings in Tandem Diabetes Care by 18.1% during the 1st quarter. Commerce Bank now owns 31,767 shares of the medical device company's stock worth $609,000 after purchasing an additional 4,878 shares during the period. Finally, Jefferies Financial Group Inc. increased its holdings in Tandem Diabetes Care by 27.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 11,668 shares of the medical device company's stock worth $224,000 after purchasing an additional 2,510 shares during the period.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Barclays reduced their price objective on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Lake Street Capital downgraded Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their price target for the company from $75.00 to $12.00 in a report on Monday. Piper Sandler downgraded Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and cut their price target for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Royal Bank Of Canada cut their price target 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of "Hold" and a consensus price target of $22.67.

Insider Transactions at Tandem Diabetes Care

In related news, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction dated 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 acquisition, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This represents a 115.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John F. Sheridan purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Tandem Diabetes Care Stock Performance

TNDM traded up $0.03 on Wednesday, reaching $11.13. 2,970,301 shares of the stock were exchanged, compared to its average volume of 1,712,294. The company's 50-day moving average price is $17.17 and its 200 day moving average price is $21.10. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $47.60. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The firm has a market capitalization of $752.05 million, a PE ratio of -3.60 and a beta of 1.46.

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) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $238.39 million. During the same period in the prior year, the firm posted ($0.47) EPS. The business's revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.