Leigh Vosseller Buys 13,720 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) CFO Leigh Vosseller acquired 13,720 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $11.10 on Wednesday. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $47.60. The firm has a 50 day moving average of $17.17 and a 200-day moving average of $21.10. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The company has a market cap of $750.03 million, a price-to-earnings ratio of -3.59 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (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 firm had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TNDM. Wells Fargo & Company cut their price objective 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. Piper Sandler downgraded shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $14.00 in a report on Thursday, August 7th. Truist Financial began coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They set a “hold” rating and a $24.00 target price on the stock. Lake Street Capital downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and lowered their target price for the stock from $75.00 to $12.00 in a report on Monday. Finally, UBS Group lowered their target price on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of “Hold” and a consensus target price of $22.67.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in shares of Tandem Diabetes Care by 32.2% during the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company’s stock worth $1,456,000 after purchasing an additional 18,529 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Tandem Diabetes Care by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company’s stock worth $6,103,000 after purchasing an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Tandem Diabetes Care by 17.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company’s stock worth $1,394,000 after purchasing an additional 11,048 shares during the period. Janney Montgomery Scott LLC raised its stake 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 worth $737,000 after purchasing an additional 8,210 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Tandem Diabetes Care by 763.3% during the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company’s stock worth $808,000 after purchasing an additional 37,303 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.