Raymond James Financial Inc. Buys 23,014 Shares of Tandem Diabetes Care, Inc. $TNDM

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. grew its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 14.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Tandem Diabetes Care by 32.2% during the first quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock valued at $1,456,000 after purchasing an additional 18,529 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Tandem Diabetes Care by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after purchasing an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Tandem Diabetes Care by 17.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 11,048 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Tandem Diabetes Care by 27.1% during the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock valued at $737,000 after purchasing an additional 8,210 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Tandem Diabetes Care by 763.3% during the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after acquiring an additional 37,303 shares in the last quarter.

Insider Activity at Tandem Diabetes Care

In other news, 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at approximately $278,566.20. This represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded up $0.42 during trading on Thursday, reaching $12.79. 1,915,103 shares of the company's stock traded hands, compared to its average volume of 1,779,173. The company has a market capitalization of $864.22 million, a P/E ratio of -4.14 and a beta of 1.45. 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's 50-day moving average is $13.67 and its 200 day moving average is $17.75. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $47.60.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The business had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The business's quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TNDM shares. Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. UBS Group decreased their target price on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company reduced 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 research report on Thursday, August 7th. Citigroup upped their price objective on shares of Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Finally, Canaccord Genuity Group set a $24.00 price objective on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.44.

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.