Nuveen LLC Makes New $5.91 Million Investment in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Nuveen LLC invested approximately $5.91 million in Tandem Diabetes Care by purchasing 308,315 shares, representing a 0.46% ownership stake at the end of the reporting period.
• Recent transactions by company insiders included significant purchases by CFO Leigh Vosseller and CEO John F. Sheridan, with both increasing their ownership stakes by over 10% in August.
• Brokerages have had mixed reactions, with price targets ranging widely, including cuts from Barclays (to $51) and Lake Street Capital (to $12), resulting in a consensus rating of "Hold" and an average price target of $22.47.

Nuveen LLC acquired a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 308,315 shares of the medical device company's stock, valued at approximately $5,907,000. Nuveen LLC owned about 0.46% of Tandem Diabetes Care at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TNDM. MetLife Investment Management LLC grew its stake in Tandem Diabetes Care by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 39,688 shares of the medical device company's stock worth $1,430,000 after buying an additional 2,266 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 buying an additional 1,977 shares during the last quarter. State of Tennessee Department of Treasury grew its stake in shares of Tandem Diabetes Care by 4.4% during 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 purchasing an additional 1,270 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Tandem Diabetes Care by 2.1% during the fourth 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 last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Tandem Diabetes Care by 109.2% during the fourth quarter. Hsbc Holdings PLC now owns 27,779 shares of the medical device company's stock valued at $1,018,000 after purchasing an additional 14,501 shares during the last quarter.

Tandem Diabetes Care Trading Down 3.8%

Shares of TNDM stock traded down $0.46 on Thursday, hitting $11.79. The stock had a trading volume of 2,435,210 shares, compared to its average volume of 2,832,462. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $47.60. The firm has a market cap of $796.65 million, a P/E ratio of -3.82 and a beta of 1.46. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The company has a fifty day moving average price of $14.93 and a two-hundred day moving average price of $19.14.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released 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). The business had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) EPS. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Tandem Diabetes Care

In related news, CEO John F. Sheridan acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer owned 106,327 shares of the company's stock, valued at $1,087,725.21. The trade was a 10.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Leigh Vosseller purchased 13,720 shares of the business's stock in a transaction on Friday, August 8th. The shares were acquired 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 directly owned 25,580 shares in the company, valued at approximately $278,566.20. This represents a 115.68% 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.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank Of Canada decreased their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen cut shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Barclays decreased 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. Stifel Nicolaus decreased their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Lake Street Capital cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and decreased their price target for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of "Hold" and an average price target of $22.47.

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.