Tandem Diabetes Care, Inc. $TNDM Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,231 shares of the medical device company's stock after purchasing an additional 44,209 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Tandem Diabetes Care worth $3,990,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Tandem Diabetes Care by 32.2% in the first quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock valued at $1,456,000 after purchasing an additional 18,529 shares during the period. Envestnet Asset Management Inc. increased its stake in Tandem Diabetes Care by 25.4% in the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after purchasing an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Tandem Diabetes Care by 17.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 11,048 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Tandem Diabetes Care by 27.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after acquiring an additional 8,210 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Tandem Diabetes Care by 763.3% in the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after acquiring an additional 37,303 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TNDM. Barclays reduced their target price on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group set a $24.00 target price on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus reduced 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. Truist Financial began coverage on shares of Tandem Diabetes Care in a research note on Monday, June 16th. They issued a "hold" rating and a $24.00 target price for the company. Finally, Robert W. Baird reduced their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of "Hold" and a consensus price target of $22.67.

Insiders Place Their Bets

In related news, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, 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 through this hyperlink. Also, CEO John F. Sheridan acquired 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares of the company's stock, valued at approximately $1,087,725.21. The trade was 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 company insiders.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM traded down $0.21 on Wednesday, reaching $10.68. 2,736,717 shares of the company were exchanged, compared to its average volume of 1,726,320. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $47.60. The firm has a market cap of $721.65 million, a price-to-earnings ratio of -3.46 and a beta of 1.46. The company has a 50-day moving average of $16.17 and a 200-day moving average of $20.21.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share 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.