Tandem Diabetes Care, Inc. $TNDM Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Tandem Diabetes Care by 14.1%, now owning 186,628 shares valued at approximately $3.58 million.
• CEO John F. Sheridan and CFO Leigh Vosseller both made significant purchases of the company's stock, showcasing confidence in the company's future.
• Tandem Diabetes Care reported a revenue increase of 8.5% year-over-year, despite reporting a quarterly loss of ($0.48) EPS, which missed analysts' expectations.

Raymond James Financial Inc. increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,628 shares of the medical device company's stock after purchasing an additional 23,014 shares during the period. Raymond James Financial Inc. owned approximately 0.28% of Tandem Diabetes Care worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after purchasing an additional 525 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Tandem Diabetes Care during the first quarter worth $37,000. State of Wyoming raised its holdings in shares of 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 purchasing an additional 1,467 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Tandem Diabetes Care during the first quarter worth $205,000. Finally, Park Avenue Securities LLC raised its holdings in shares of Tandem Diabetes Care by 31.3% during the first quarter. Park Avenue Securities LLC now owns 11,708 shares of the medical device company's stock worth $224,000 after purchasing an additional 2,794 shares during the last quarter.

Tandem Diabetes Care Price Performance

TNDM traded up $0.06 on Tuesday, hitting $12.56. 1,290,110 shares of the company's stock were exchanged, compared to its average volume of 1,729,553. 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 current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average price of $13.95 and a 200-day moving average price of $17.97. The stock has a market cap of $848.68 million, a price-to-earnings ratio of -4.06 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). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The business 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) EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group set a $24.00 target price on shares of Tandem Diabetes Care and gave the company a "buy" rating in a report on Thursday, August 7th. Wells Fargo & Company cut their price objective on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Citigroup increased their target price on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Lake Street Capital lowered Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their price target for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Finally, Oppenheimer initiated coverage on Tandem Diabetes Care in a research report on Monday. They set an "outperform" rating and a $22.00 price target on the stock. Five 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, the stock has an average rating of "Hold" and an average price target of $22.44.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction on 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 purchase, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction on 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 purchase, the chief executive officer owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

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.