Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,137 shares of the medical device company’s stock after selling 2,970 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Tandem Diabetes Care were worth $367,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TNDM. Assetmark Inc. boosted its position in Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after buying an additional 525 shares during the last quarter. NBC Securities Inc. purchased a new stake in Tandem Diabetes Care in the first quarter valued at approximately $37,000. State of Wyoming boosted its position in Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock valued at $108,000 after buying an additional 1,467 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Tandem Diabetes Care by 102.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company’s stock valued at $141,000 after buying an additional 1,977 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in Tandem Diabetes Care in the first quarter valued at approximately $205,000.

Insider Buying and Selling at Tandem Diabetes Care

In other news, CFO Leigh Vosseller acquired 13,720 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $10.89 per share, with a total value of $149,410.80. Following the purchase, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, August 11th. The stock was 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 in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Tandem Diabetes Care Trading Up 1.5%

Shares of NASDAQ:TNDM opened at $10.82 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $47.60. The firm has a market capitalization of $731.11 million, a price-to-earnings ratio of -3.50 and a beta of 1.46. 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 50 day moving average price is $16.59 and its 200-day moving average price is $20.57.

Tandem Diabetes Care (NASDAQ:TNDM) last announced 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 net margin of 20.51% and a negative return on equity of 65.40%. The business had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $238.39 million. During the same quarter last year, the business earned ($0.47) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TNDM. 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. Lake Street Capital lowered 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 research report on Monday, August 11th. Truist Financial initiated coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They issued a “hold” rating and a $24.00 price objective on the stock. Citigroup restated a “sell” rating and issued a $14.00 price objective (down previously from $24.00) on shares of Tandem Diabetes Care in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lowered their price objective on 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care has an average rating of “Hold” and a consensus target price of $22.67.

Tandem Diabetes Care Company 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.