Tandem Diabetes Care, Inc. $TNDM Shares Bought by Sector Gamma AS

Sector Gamma AS lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,523 shares of the medical device company's stock after buying an additional 30,000 shares during the period. Sector Gamma AS owned approximately 0.32% of Tandem Diabetes Care worth $3,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNDM. Cerity Partners LLC boosted its position in Tandem Diabetes Care by 32.2% during the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock worth $1,456,000 after acquiring an additional 18,529 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Tandem Diabetes Care by 25.4% in the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock worth $6,103,000 after purchasing an additional 64,467 shares during the period. Acadian Asset Management LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at about $4,457,000. Oppenheimer Asset Management Inc. increased its stake in Tandem Diabetes Care by 17.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after buying an additional 11,048 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Tandem Diabetes Care by 27.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock valued at $737,000 after buying an additional 8,210 shares during the period.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $14.66 on Friday. The company has a market capitalization of $990.56 million, a PE ratio of -4.74 and a beta of 1.48. 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 fifty day moving average of $12.97 and a 200-day moving average of $16.38. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $38.28.

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). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. During the same period last year, the firm earned ($0.47) earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity

In other news, CEO John F. Sheridan bought 10,000 shares of the company'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 transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Leigh Vosseller purchased 13,720 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $10.89 per share, with a total value of $149,410.80. Following the transaction, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. This 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 insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup reiterated a "neutral" rating and issued a $15.00 price objective (up from $11.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 7th. Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They set an "outperform" rating and a $22.00 target price for the company. Finally, Truist Financial set a $16.00 target price on Tandem Diabetes Care and gave the stock a "hold" rating in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $21.19.

Tandem Diabetes Care 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.

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