Versor Investments LP Makes New $584,000 Investment in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Versor Investments LP acquired 30,500 shares of Tandem Diabetes Care, Inc. for approximately $584,000, reflecting the interest from institutional investors in the company's stock.
• Company insiders, including CFO Leigh Vosseller and CEO John F. Sheridan, increased their holdings in Tandem Diabetes Care, indicating confidence in the company’s performance.
• Analysts have mixed ratings for Tandem Diabetes Care, with price targets ranging from $12 to $51, and recent reports reflecting a consensus rating of Hold.

Versor Investments LP bought a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,500 shares of the medical device company's stock, valued at approximately $584,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in Tandem Diabetes Care by 35.8% in the fourth quarter. Wells Fargo & Company MN now owns 61,255 shares of the medical device company's stock valued at $2,206,000 after purchasing an additional 16,163 shares in the last quarter. Bank of Montreal Can grew its position in Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after acquiring an additional 409 shares in the last quarter. Raymond James Financial Inc. bought a new position in Tandem Diabetes Care in the fourth quarter valued at $5,893,000. Summit Investment Advisors Inc. raised its position in Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after purchasing an additional 525 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Tandem Diabetes Care by 43.6% during the fourth quarter. XTX Topco Ltd now owns 7,490 shares of the medical device company's stock worth $270,000 after purchasing an additional 2,273 shares during the last quarter.

Insider Buying and Selling

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer owned 106,327 shares of the company's stock, valued at approximately $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Leigh Vosseller bought 13,720 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired 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 represents 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 company insiders.

Tandem Diabetes Care Trading Up 8.0%

NASDAQ:TNDM traded up $0.88 during midday trading on Friday, reaching $11.93. 2,188,809 shares of the stock traded hands, compared to its average volume of 2,775,918. The stock has a market capitalization of $806.10 million, a P/E ratio of -3.86 and a beta of 1.46. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $47.60. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The company has a fifty day moving average of $15.58 and a 200 day moving average of $19.68.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm 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 business's revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Piper Sandler cut Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Stifel Nicolaus decreased their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Lake Street Capital lowered shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $75.00 to $12.00 in a report on Monday, August 11th. Barclays cut 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 note on Friday, August 8th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Hold" and an average price target of $22.47.

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.