Jacobs Levy Equity Management Inc. Sells 189,444 Shares of Tandem Diabetes Care, Inc. $TNDM

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Tandem Diabetes Care, Inc. by 11.4%, now owning approximately 1.47 million shares valued at $28.2 million.
• Insiders are increasing their holdings, with CFO Leigh Vosseller buying 13,720 shares and CEO John F. Sheridan acquiring 10,000 shares recently, indicating confidence in the company's future.
• Tandem Diabetes Care's stock is facing multiple dropped price targets from various analysts, with Barclays reducing theirs from $53 to $51, reflecting concerns over the company's financial performance.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,471,569 shares of the medical device company's stock after selling 189,444 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 2.21% of Tandem Diabetes Care worth $28,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northern Trust Corp increased its holdings in shares of Tandem Diabetes Care by 9.7% during the 4th quarter. Northern Trust Corp now owns 697,456 shares of the medical device company's stock valued at $25,122,000 after acquiring an additional 61,768 shares during the last quarter. Captrust Financial Advisors boosted its position in Tandem Diabetes Care by 82.0% during the fourth quarter. Captrust Financial Advisors now owns 18,513 shares of the medical device company's stock worth $667,000 after purchasing an additional 8,343 shares during the period. Cetera Investment Advisers boosted its position in Tandem Diabetes Care by 7.4% during the fourth quarter. Cetera Investment Advisers now owns 14,185 shares of the medical device company's stock worth $511,000 after purchasing an additional 981 shares during the period. Deutsche Bank AG grew its holdings in Tandem Diabetes Care by 45.5% during the fourth quarter. Deutsche Bank AG now owns 61,771 shares of the medical device company's stock valued at $2,225,000 after purchasing an additional 19,308 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in Tandem Diabetes Care by 50.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 272,088 shares of the medical device company's stock valued at $9,801,000 after purchasing an additional 91,227 shares during the last quarter.

Insider Activity at Tandem Diabetes Care

In other news, CFO Leigh Vosseller acquired 13,720 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the acquisition, the chief financial officer owned 25,580 shares of the company's stock, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of the firm's stock in a transaction dated 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 acquisition, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on TNDM. Wells Fargo & Company lowered their price target on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Lake Street Capital downgraded shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and dropped their target price for the stock from $75.00 to $12.00 in a report on Monday, August 11th. Oppenheimer began coverage on shares of Tandem Diabetes Care in a report on Monday. They issued an "outperform" rating and a $22.00 target price on the stock. Finally, Piper Sandler downgraded shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $30.00 to $14.00 in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of "Hold" and an average target price of $22.44.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM traded up $0.06 on Tuesday, hitting $12.56. 1,290,110 shares of the company were exchanged, compared to its average volume of 1,729,553. The company's 50 day moving average price is $13.85 and its two-hundred day moving average price is $17.93. The firm has a market capitalization of $848.68 million, a price-to-earnings ratio of -4.06 and a beta of 1.45. 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 one year low of $9.98 and a one year high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share 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 firm had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. During the same period last year, the business earned ($0.47) earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

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.