Vanguard Group Inc. Trims Stake in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Vanguard Group Inc. has reduced its holdings in Tandem Diabetes Care by 2.0%, now owning approximately 10.95% of the company's stock, worth around $139.7 million.
• Insider activity includes significant purchases by CFO Leigh Vosseller and CEO John F. Sheridan, increasing their holdings by 115.68% and 10.38%, respectively.
• Analysts have updated their target prices for Tandem Diabetes Care, with Stifel Nicolaus lowering its target from $60.00 to $31.00 while Piper Sandler downgraded the stock rating from "overweight" to "neutral."

Vanguard Group Inc. decreased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,292,169 shares of the medical device company's stock after selling 147,836 shares during the period. Vanguard Group Inc. owned about 10.95% of Tandem Diabetes Care worth $139,718,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. raised its position in Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $37,000. State of Wyoming raised its position in Tandem Diabetes Care by 95.9% in the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock valued at $108,000 after purchasing an additional 1,467 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Tandem Diabetes Care by 102.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company's stock valued at $141,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $205,000.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock traded up $0.88 during midday trading on Friday, reaching $11.93. The company's stock had a trading volume of 2,188,809 shares, compared to its average volume of 2,775,918. 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 fifty-two week low of $9.98 and a fifty-two week high of $47.60. The stock's 50 day simple moving average is $15.58 and its 200 day simple moving average is $19.68. The firm has a market capitalization of $806.10 million, a PE ratio of -3.86 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data 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 return on equity of 65.40% and a negative net margin of 20.51%.The company had revenue of $240.68 million for the quarter, compared to analysts' expectations of $238.39 million. During the same period in the prior year, the firm posted ($0.47) EPS. The firm's quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Leigh Vosseller acquired 13,720 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost 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 of the company's stock, valued at approximately $278,566.20. This trade represents a 115.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John F. Sheridan bought 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the transaction, the chief executive officer 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.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TNDM. Barclays reduced their price target on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Citigroup increased their price target on Tandem Diabetes Care from $10.35 to $11.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group cut their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company cut their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Finally, Lake Street Capital lowered Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their target price for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Four 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 company has a consensus rating of "Hold" and a consensus price target of $22.47.

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.