Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CFO Acquires $149,410.80 in Stock

Key Points

• Tandem Diabetes Care CFO Leigh Vosseller purchased 13,720 shares of the company's stock at an average price of $10.89, totaling $149,410.80, increasing their ownership to 25,580 shares.
• The company's stock was down 10% to $10.11, with a market capitalization of $683.12 million and a price-to-earnings ratio of -3.27.
• Tandem Diabetes Care reported a quarterly earnings miss, with ($0.48) EPS compared to expectations of ($0.40), despite revenue increasing by 8.5% year-over-year.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) CFO Leigh Vosseller bought 13,720 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares of the company's stock, valued at $278,566.20. This represents a 115.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tandem Diabetes Care Stock Down 10.0%

NASDAQ TNDM traded down $1.12 during trading hours on Monday, reaching $10.11. 3,127,767 shares of the company's stock were exchanged, compared to its average volume of 1,690,951. 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 market capitalization of $683.12 million, a price-to-earnings ratio of -3.27 and a beta of 1.46. The company's 50-day moving average is $17.36 and its two-hundred day moving average is $21.17. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $47.60.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The company had revenue of $240.68 million for the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. The firm's revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.47) EPS. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TNDM. Wells Fargo & Company cut their price target on shares of Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday. UBS Group decreased their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday. Robert W. Baird cut their price objective on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Citigroup reiterated a "sell" rating and set a $14.00 price target (down previously from $24.00) on shares of Tandem Diabetes Care in a research report on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $22.67.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. Assetmark Inc. increased its position in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after purchasing an additional 525 shares during the last quarter. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care during the 1st quarter worth approximately $37,000. CWM LLC grew its stake in shares of Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock valued at $52,000 after acquiring an additional 2,025 shares in the last quarter. State of Wyoming increased its position in Tandem Diabetes Care by 95.9% during the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after acquiring an additional 1,467 shares during the period. Finally, Brooklyn Investment Group raised its stake in Tandem Diabetes Care by 417.8% in the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after purchasing an additional 2,741 shares in the last quarter.

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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