Tandem Diabetes Care, Inc. $TNDM Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in Tandem Diabetes Care by 43.1%, owning approximately 0.53% of the company valued at $6.83 million, following the purchase of over 107,000 shares.
• Tandem Diabetes Care reported a loss of $0.48 earnings per share for the most recent quarter, missing estimates, but revenue increased by 8.5% year-over-year to $240.68 million.
• Insider trading activity included significant purchases by the CFO and CEO, indicating a 115.68% and 10.38% increase in their respective stock holdings.

Aberdeen Group plc boosted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 356,218 shares of the medical device company's stock after purchasing an additional 107,354 shares during the quarter. Aberdeen Group plc owned about 0.53% of Tandem Diabetes Care worth $6,825,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TNDM. Hood River Capital Management LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $46,035,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock worth $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth $32,889,000. GW&K Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 34.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock worth $54,874,000 after purchasing an additional 740,499 shares during the period. Finally, Park West Asset Management LLC boosted its stake 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 worth $57,632,000 after purchasing an additional 530,000 shares during the period.

Insiders Place Their Bets

In other news, CFO Leigh Vosseller purchased 13,720 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer owned 25,580 shares of the company's stock, valued at approximately $278,566.20. This represents a 115.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John F. Sheridan purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased 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 $1,087,725.21. This represents a 10.38% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered 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. Truist Financial assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They issued a "hold" rating and a $24.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Four investment 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, Tandem Diabetes Care presently has an average rating of "Hold" and an average price target of $22.47.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded up $0.88 during mid-day trading on Friday, reaching $11.93. 2,188,809 shares of the company traded hands, compared to its average volume of 2,775,918. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. 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 market capitalization of $806.10 million, a price-to-earnings ratio of -3.86 and a beta of 1.46. The firm's fifty day moving average is $15.58 and its two-hundred day moving average is $19.68.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly 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 company had revenue of $240.68 million for the quarter, compared to analyst estimates 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 for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. On average, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

About Tandem Diabetes Care

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.