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 acquired a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 180,523 shares of the medical device company's stock, valued at approximately $3,459,000. Tandem Diabetes Care accounts for 1.1% of Sector Gamma AS's portfolio, making the stock its 25th biggest holding. Sector Gamma AS owned 0.27% of Tandem Diabetes Care as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after acquiring an additional 525 shares during the period. NBC Securities Inc. bought a new stake in Tandem Diabetes Care during the 1st quarter valued at $37,000. State of Wyoming raised its position 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 valued at $108,000 after purchasing an additional 1,467 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 valued at $141,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after purchasing an additional 525 shares in the last quarter.

Tandem Diabetes Care Stock Up 1.5%

TNDM stock traded up $0.16 on Friday, hitting $10.82. 2,126,775 shares of the company's stock were exchanged, compared to its average volume of 2,668,147. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $47.60. The firm has a 50 day moving average price of $16.59 and a two-hundred day moving average price of $20.46. 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 cap of $731.11 million, a P/E ratio of -3.50 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. During the same quarter last year, the firm earned ($0.47) earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TNDM shares. Truist Financial started coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They set a "hold" rating and a $24.00 target price for the company. Robert W. Baird decreased their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their target price on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Stifel Nicolaus decreased their target price on 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. Finally, Lake Street Capital lowered Tandem Diabetes Care from a "buy" rating to a "hold" rating and reduced their price target for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.67.

Insider Transactions at Tandem Diabetes Care

In other news, CEO John F. Sheridan acquired 10,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief executive officer owned 106,327 shares of the company's stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Leigh Vosseller acquired 13,720 shares of the business's stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost 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 approximately $278,566.20. This trade represents a 115.68% 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 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.