Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CEO Acquires $102,300.00 in Stock

Key Points

• Tandem Diabetes Care CEO John F. Sheridan purchased 10,000 shares for $102,300, increasing his ownership to 106,327 shares valued at over $1 million.
• Shares of Tandem Diabetes Care experienced a 10% decrease in trading, bringing the stock price down to $10.11 with high trading volume of over 3 million shares.
• The company's latest earnings report showed a loss of ($0.48) EPS, missing estimates, but revenue rose by 8.5% to $240.68 million compared to the same quarter last year.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) CEO John F. Sheridan purchased 10,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were bought at an average price 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 in the company, valued at $1,087,725.21. This 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 this hyperlink.

Tandem Diabetes Care Trading Down 10.0%

Shares of TNDM traded down $1.12 during mid-day trading on Monday, reaching $10.11. The stock had a trading volume of 3,127,767 shares, compared to its average volume of 1,690,951. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The business's fifty day moving average is $17.36 and its 200 day moving average is $21.17. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $47.60. The firm has a market cap of $683.12 million, a price-to-earnings ratio of -3.27 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted 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). The business had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. Tandem Diabetes Care's revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. On average, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on TNDM shares. Truist Financial began coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They issued a "hold" rating and a $24.00 target price on the stock. UBS Group reduced their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday. Stifel Nicolaus dropped their target price on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada cut their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Wall Street Zen cut shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $22.67.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at approximately $85,574,000. GW&K Investment Management LLC grew its stake in shares of Tandem Diabetes Care by 34.9% in the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after buying an additional 740,499 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after buying an additional 337,026 shares during the period. Stephens Investment Management Group LLC lifted its stake in Tandem Diabetes Care by 1.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company's stock worth $32,392,000 after acquiring an additional 30,854 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after acquiring an additional 1,086,337 shares during the period.

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.

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