Oppenheimer Asset Management Inc. Lowers Holdings in Tandem Diabetes Care, Inc. $TNDM

Oppenheimer Asset Management Inc. decreased its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 25.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,041 shares of the medical device company’s stock after selling 18,711 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $1,007,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TNDM. Assetmark Inc. raised its holdings 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 valued at $34,000 after buying an additional 525 shares during the period. CWM LLC raised its holdings in shares of Tandem Diabetes Care by 262.6% during the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after buying an additional 2,025 shares during the period. Brooklyn Investment Group raised its holdings in shares of Tandem Diabetes Care by 417.8% during the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock valued at $65,000 after buying an additional 2,741 shares during the period. State of Wyoming raised its holdings in shares of Tandem Diabetes Care by 49.1% during the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after buying an additional 1,471 shares during the period. Finally, AlphaQuest LLC increased its holdings in Tandem Diabetes Care by 819.5% during the 1st quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company’s stock worth $164,000 after purchasing an additional 7,630 shares during the last quarter.

Tandem Diabetes Care Trading Down 4.0%

Shares of Tandem Diabetes Care stock opened at $14.00 on Friday. 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 firm has a market cap of $945.98 million, a price-to-earnings ratio of -4.53 and a beta of 1.48. The business has a fifty day simple moving average of $13.42 and a 200-day simple moving average of $16.28. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.47) EPS. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stifel Nicolaus began coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price objective on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Piper Sandler lowered Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Finally, Truist Financial set a $16.00 price target on Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.19.

Insider Buying and Selling at Tandem Diabetes Care

In other news, 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 price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the acquisition, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This represents a 115.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO John F. Sheridan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

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.