Tandem Diabetes Care, Inc. $TNDM Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Tandem Diabetes Care by 52.1%, now holding 139,094 shares worth approximately $2.67 million as of the latest SEC filing.
• Tandem Diabetes Care reported a quarterly EPS of ($0.48), missing analyst estimates, while its revenue rose 8.5% year-over-year to $240.68 million.
• Equity analysts have mixed outlooks, with a consensus rating of "Hold" and a price target of $22.47, signaling cautious interest in the company's future prospects.

Russell Investments Group Ltd. decreased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 52.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,094 shares of the medical device company's stock after selling 151,134 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Tandem Diabetes Care worth $2,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC raised 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 worth $1,456,000 after buying an additional 18,529 shares in the last quarter. Envestnet Asset Management Inc. raised 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 worth $6,103,000 after buying an additional 64,467 shares in the last quarter. Oppenheimer Asset Management Inc. raised 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 worth $1,394,000 after buying an additional 11,048 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Tandem Diabetes Care by 27.1% in the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after buying an additional 8,210 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after buying an additional 37,303 shares in the last quarter.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 13,720 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of the acquisition, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Tandem Diabetes Care Stock Performance

Shares of TNDM traded down $0.46 during trading hours on Thursday, reaching $11.79. 2,435,210 shares of the company traded hands, compared to its average volume of 1,737,261. The stock has a market capitalization of $796.65 million, a P/E ratio of -3.82 and a beta of 1.46. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $47.60. The business has a fifty day moving average price of $15.10 and a 200-day moving average price of $19.30.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They issued a "hold" rating and a $24.00 price target on the stock. Wells Fargo & Company cut their price target on shares of 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. UBS Group cut their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Robert W. Baird cut their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup lifted their price target on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.47.

Tandem Diabetes Care 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.