Sessa Capital IM L.P. Invests $85.57 Million 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 position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,466,307 shares of the medical device company's stock, valued at approximately $85,574,000. Tandem Diabetes Care accounts for 3.3% of Sessa Capital IM L.P.'s portfolio, making the stock its 10th biggest position. Sessa Capital IM L.P. owned approximately 6.71% of Tandem Diabetes Care at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after acquiring an additional 525 shares during the period. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care during the first quarter worth about $37,000. State of Wyoming raised its stake in Tandem Diabetes Care by 95.9% during the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after acquiring an additional 1,467 shares during the period. Brooklyn Investment Group raised its stake in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after acquiring an additional 2,741 shares during the period. Finally, AlphaQuest LLC raised its stake in Tandem Diabetes Care by 819.5% during the first quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company's stock worth $164,000 after acquiring an additional 7,630 shares during the period.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock traded up $0.06 on Tuesday, hitting $12.56. The company had a trading volume of 1,290,110 shares, compared to its average volume of 1,955,514. The business has a 50-day simple moving average of $13.85 and a 200-day simple moving average of $17.93. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The company has a market cap of $848.68 million, a PE ratio of -4.06 and a beta of 1.45. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week 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 the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The company's revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.47) earnings per share. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

TNDM has been the topic of several research reports. Truist Financial initiated coverage on shares of Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 price objective on the stock. Piper Sandler cut shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. 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 report on Thursday, August 7th. Barclays decreased 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 report on Friday, August 8th. Finally, UBS Group decreased their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. 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, the company currently has a consensus rating of "Hold" and a consensus target price of $22.44.

Insider Activity at Tandem Diabetes Care

In related news, CEO John F. Sheridan acquired 10,000 shares of the firm's stock in a transaction dated 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 directly 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $10.89 per share, with a total value 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 represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

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.