Jacobs Levy Equity Management Inc. Cuts Stock Position in 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. cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,471,569 shares of the medical device company's stock after selling 189,444 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 2.21% of Tandem Diabetes Care worth $28,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. GW&K Investment Management LLC grew its stake in Tandem Diabetes Care by 34.9% during the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock worth $54,874,000 after buying an additional 740,499 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 9.7% during the first quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company's stock worth $32,704,000 after buying an additional 151,106 shares in the last quarter. Jennison Associates LLC grew its stake in Tandem Diabetes Care by 0.7% during the first quarter. Jennison Associates LLC now owns 1,477,108 shares of the medical device company's stock worth $28,301,000 after buying an additional 10,753 shares in the last quarter. Brown Advisory Inc. grew its stake in Tandem Diabetes Care by 1.3% during the first quarter. Brown Advisory Inc. now owns 925,310 shares of the medical device company's stock worth $17,729,000 after buying an additional 12,223 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Tandem Diabetes Care by 4.4% during the fourth quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company's stock worth $31,020,000 after buying an additional 36,475 shares in the last quarter.

Insider Activity

In other Tandem Diabetes Care news, CEO John F. Sheridan purchased 10,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares of the company's stock, valued at $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Leigh Vosseller purchased 13,720 shares of Tandem Diabetes Care stock in a transaction dated Friday, August 8th. The shares were acquired 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 in the company, 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. 1.90% of the stock is currently owned by corporate insiders.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $0.46 during trading hours on Thursday, reaching $12.83. The stock had a trading volume of 567,656 shares, compared to its average volume of 1,723,344. The stock's fifty day simple moving average is $13.76 and its 200 day simple moving average is $17.89. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $47.60. The firm has a market capitalization of $866.92 million, a PE ratio of -4.15 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 the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million for 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 for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on TNDM shares. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $30.00 to $14.00 in a report on Thursday, August 7th. Canaccord Genuity Group set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a report on Thursday, August 7th. UBS Group lowered their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Barclays reduced 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. Finally, Wells Fargo & Company reduced their price target 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. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Hold" and an average price target 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.