HighTower Advisors LLC Has $1.29 Million Holdings in Tandem Diabetes Care, Inc. $TNDM

Key Points

• HighTower Advisors LLC increased its stake in Tandem Diabetes Care by 604.6%, owning a total of 67,168 shares valued at approximately $1.29 million.
• Several institutional investors also boosted their positions in Tandem Diabetes Care, with notable increases from Tower Research Capital LLC (102.7%) and HSBC Holdings PLC (109.2%) during the fourth quarter.
• In the latest earnings report, Tandem Diabetes Care reported a loss of ($0.48) EPS, missing expectations, but revenue increased by 8.5% year-over-year, totaling $240.68 million.

HighTower Advisors LLC boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 604.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,168 shares of the medical device company's stock after acquiring an additional 57,635 shares during the quarter. HighTower Advisors LLC owned 0.10% of Tandem Diabetes Care worth $1,287,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. GW&K Investment Management LLC increased its position in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after acquiring an additional 740,499 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Tandem Diabetes Care by 14.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after purchasing an additional 337,026 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in Tandem Diabetes Care by 9.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company's stock valued at $32,704,000 after purchasing an additional 151,106 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after acquiring an additional 1,086,337 shares during the last quarter. Finally, Park West Asset Management LLC lifted its position in shares of Tandem Diabetes Care by 49.5% during the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company's stock valued at $57,632,000 after acquiring an additional 530,000 shares during the last quarter.

Analyst Ratings Changes

TNDM has been the topic of several analyst reports. Truist Financial initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They set a "hold" rating and a $24.00 target price on the stock. Lake Street Capital cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their target price for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Barclays dropped their price objective 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. Robert W. Baird dropped their price objective on shares of 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. Finally, Wells Fargo & Company dropped their price objective on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.47.

Tandem Diabetes Care Stock Down 3.8%

TNDM traded down $0.46 during trading on Thursday, hitting $11.79. The company had a trading volume of 2,435,210 shares, compared to its average volume of 2,832,462. The company has a market capitalization of $796.65 million, a PE ratio of -3.82 and a beta of 1.46. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $47.60. The firm's 50-day moving average price is $14.93 and its 200 day moving average price is $19.14. 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 (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data 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). 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 13,720 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $10.89 per share, with a total value of $149,410.80. Following the transaction, the chief financial officer directly owned 25,580 shares of the company's stock, valued at $278,566.20. This represents a 115.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John F. Sheridan purchased 10,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.