Sessa Capital IM L.P. Takes Position in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Sessa Capital IM L.P. acquired 4,466,307 shares of Tandem Diabetes Care, valued at approximately $85.57 million, making it the firm's 10th largest holding.
• Market analysts have varied opinions on Tandem Diabetes Care, with price targets ranging from $11.00 to $24.00 and a consensus rating of "Hold".
• CEO John F. Sheridan and CFO Leigh Vosseller both recently purchased shares of Tandem Diabetes Care, with significant increases in their ownership stakes.

Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,466,307 shares of the medical device company's stock, valued at approximately $85,574,000. Tandem Diabetes Care comprises about 3.3% of Sessa Capital IM L.P.'s portfolio, making the stock its 10th biggest position. Sessa Capital IM L.P. owned about 6.71% of Tandem Diabetes Care as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNDM. Assetmark Inc. lifted 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 valued at $34,000 after purchasing an additional 525 shares in the last quarter. NBC Securities Inc. bought a new stake in Tandem Diabetes Care during the 1st quarter worth about $37,000. Brooklyn Investment Group raised its stake in shares of Tandem Diabetes Care by 417.8% during the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after purchasing an additional 2,741 shares in the last quarter. State of Wyoming raised its stake in shares of Tandem Diabetes Care by 49.1% during the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company's stock worth $86,000 after purchasing an additional 1,471 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Tandem Diabetes Care by 819.5% in the 1st quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company's stock valued at $164,000 after purchasing an additional 7,630 shares during the period.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of research analyst reports. Lake Street Capital cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and dropped their target price for the company from $75.00 to $12.00 in a report on Monday, August 11th. Royal Bank Of Canada decreased their target price on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Finally, Citigroup increased their price target on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.44.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock traded down $0.61 during mid-day trading on Friday, reaching $12.18. The company had a trading volume of 688,109 shares, compared to its average volume of 1,725,214. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $47.60. 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 market cap of $823.00 million, a P/E ratio of -3.95 and a beta of 1.45. The business has a fifty day simple moving average of $13.67 and a 200 day simple moving average of $17.75.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same quarter in the prior year, the business earned ($0.47) EPS. The business's quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Buying and Selling at Tandem Diabetes Care

In related news, CEO John F. Sheridan purchased 10,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer owned 106,327 shares in the company, valued at approximately $1,087,725.21. This represents a 10.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Leigh Vosseller purchased 13,720 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the purchase, the chief financial officer 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 company 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.