Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has significantly decreased its holdings in Tandem Diabetes Care, reducing its stake by 97.8% to 12,245 shares worth $235,000.
• Analysts have lowered their price targets for Tandem Diabetes Care, with Stifel Nicolaus reducing its target from $60.00 to $31.00 while Citigroup set a target of $14.00.
• The stock recently opened at $15.40, with a twelve-month low of $14.31 and a high of $47.60, indicating a volatile trading period.

Victory Capital Management Inc. lessened its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 97.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,245 shares of the medical device company's stock after selling 552,988 shares during the quarter. Victory Capital Management Inc.'s holdings in Tandem Diabetes Care were worth $235,000 as of its most recent SEC filing.

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

Tandem Diabetes Care Trading Down 5.0%

Shares of NASDAQ:TNDM traded down $0.76 during mid-day trading on Wednesday, reaching $14.39. 3,315,840 shares of the company were exchanged, compared to its average volume of 1,592,814. The firm's 50-day simple moving average is $18.06 and its 200 day simple moving average is $21.93. Tandem Diabetes Care, Inc. has a 1 year low of $13.94 and a 1 year high of $47.60. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The firm has a market cap of $958.52 million, a price-to-earnings ratio of -5.18 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Piper Sandler decreased their price target on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group upped their price target on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Mizuho assumed coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Hold" and a consensus target price of $32.71.

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.