Sector Gamma AS Invests $3.46 Million in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Sector Gamma AS has acquired 180,523 shares of Tandem Diabetes Care, valued at approximately $3.46 million, making it the 25th largest holding in their portfolio.
• Analysts have recently set new price targets for Tandem Diabetes Care, with Barclays lowering their target from $53 to $51, while Citigroup reduced theirs from $24 to $14, indicating mixed outlooks for the stock.
• The stock has dropped by 4.2%, with a current trading price of $10.66, and a reported loss per share of ($0.48) for the recent quarter, missing estimates.

Sector Gamma AS purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 180,523 shares of the medical device company's stock, valued at approximately $3,459,000. Tandem Diabetes Care makes up 1.1% of Sector Gamma AS's holdings, making the stock its 25th largest holding. Sector Gamma AS owned approximately 0.27% of Tandem Diabetes Care as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after buying an additional 525 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $37,000. State of Wyoming raised its stake in Tandem Diabetes Care by 95.9% during the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after buying an additional 1,467 shares during the period. Tower Research Capital LLC TRC raised its stake in Tandem Diabetes Care by 102.7% during the 4th 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 period. Finally, Allianz Asset Management GmbH acquired a new position in Tandem Diabetes Care during the 1st quarter worth approximately $205,000.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of research reports. Piper Sandler downgraded Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Robert W. Baird dropped their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Lake Street Capital downgraded shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and decreased their target price for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Finally, Stifel Nicolaus decreased 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 report on Thursday, May 1st. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.67.

Insiders Place Their Bets

In other Tandem Diabetes Care news, CEO John F. Sheridan purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Leigh Vosseller purchased 13,720 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the acquisition, the chief financial officer directly owned 25,580 shares of the company's stock, valued at $278,566.20. This trade represents a 115.68% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Tandem Diabetes Care Stock Down 1.9%

TNDM traded down $0.21 during mid-day trading on Wednesday, reaching $10.68. 2,736,717 shares of the stock were exchanged, compared to its average volume of 2,711,621. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The stock has a market capitalization of $721.65 million, a PE ratio of -3.46 and a beta of 1.46. The company has a 50 day moving average price of $15.95 and a two-hundred day moving average price of $20.14. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). The firm had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.Tandem Diabetes Care's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share. As a group, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current 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.