Voya Investment Management LLC Acquires 38,519 Shares of Tandem Diabetes Care, Inc. $TNDM

Key Points

• Voya Investment Management LLC increased its stake in Tandem Diabetes Care by 39.2% during the first quarter, owning 136,698 shares valued at approximately $2.6 million.
• Tandem Diabetes Care's stock price recently fell by 5.1%, closing at $12.57, with the company reporting a loss of ($0.48) earnings per share for the last quarter.
• Analyst ratings for Tandem Diabetes Care are mixed, with five analysts recommending a Buy rating and several others maintaining a Hold position, setting a consensus price target of $22.44.

Voya Investment Management LLC lifted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 39.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,698 shares of the medical device company's stock after buying an additional 38,519 shares during the quarter. Voya Investment Management LLC owned about 0.21% of Tandem Diabetes Care worth $2,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in shares of Tandem Diabetes Care by 42.9% in 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 during the period. Cetera Investment Advisers increased its position in Tandem Diabetes Care by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 14,185 shares of the medical device company's stock valued at $511,000 after buying an additional 981 shares in the last quarter. KBC Group NV increased its holdings in shares of Tandem Diabetes Care by 0.7% in the first quarter. KBC Group NV now owns 193,808 shares of the medical device company's stock valued at $3,713,000 after purchasing an additional 1,329 shares during the period. State of Wyoming grew its holdings 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. Finally, Advisors Asset Management Inc. grew its holdings in Tandem Diabetes Care by 8.0% during the first quarter. Advisors Asset Management Inc. now owns 22,460 shares of the medical device company's stock worth $430,000 after acquiring an additional 1,664 shares during the period.

Insider Buying and Selling

In related news, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction dated 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 acquisition, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. The trade was a 10.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the transaction, the chief financial officer directly owned 25,580 shares of the company's stock, valued at approximately $278,566.20. The trade was a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Trading Down 5.1%

Tandem Diabetes Care stock traded down $0.67 during midday trading on Friday, reaching $12.57. The stock had a trading volume of 2,534,476 shares, compared to its average volume of 1,818,860. The stock's 50-day simple moving average is $13.22 and its 200 day simple moving average is $17.20. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. Tandem Diabetes Care, Inc. has a twelve month low of $9.98 and a twelve month high of $47.60. The stock has a market capitalization of $849.35 million, a PE ratio of -4.07 and a beta of 1.45.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). The business 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%.The firm's revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) earnings per share. Analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup raised their target price on Tandem Diabetes Care from $10.35 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Canaccord Genuity Group set a $24.00 target price on Tandem Diabetes Care and gave the company a "buy" rating in a research report on Thursday, August 7th. Truist Financial began coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They issued a "hold" rating and a $24.00 price objective for the company. Lake Street Capital downgraded Tandem Diabetes Care from a "buy" rating to a "hold" rating and decreased their price target for the stock from $75.00 to $12.00 in a report on Monday, August 11th. Finally, Oppenheimer began coverage on Tandem Diabetes Care in a research report on Monday, September 8th. They issued an "outperform" rating and a $22.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $22.44.

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.