Rehmann Capital Advisory Group Acquires Shares of 2,980 Tandem Diabetes Care Inc (NASDAQ:TNDM)

Rehmann Capital Advisory Group bought a new stake in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,980 shares of the medical device company’s stock, valued at approximately $189,000.

Other institutional investors have also made changes to their positions in the company. Marshall Wace North America L.P. increased its position in shares of Tandem Diabetes Care by 25.8% during the first quarter. Marshall Wace North America L.P. now owns 130,837 shares of the medical device company’s stock valued at $8,308,000 after acquiring an additional 26,873 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Tandem Diabetes Care during the first quarter valued at $267,000. GWM Advisors LLC grew its holdings in Tandem Diabetes Care by 148.3% during the first quarter. GWM Advisors LLC now owns 15,871 shares of the medical device company’s stock valued at $1,008,000 after purchasing an additional 9,479 shares during the period. Crosspoint Capital Strategies LLC bought a new position in Tandem Diabetes Care during the first quarter valued at $2,235,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Tandem Diabetes Care during the first quarter valued at $1,025,000. Institutional investors own 80.47% of the company’s stock.

NASDAQ TNDM traded down $3.41 during trading hours on Friday, reaching $63.70. 1,628,695 shares of the stock traded hands, compared to its average volume of 1,236,633. The firm has a 50 day moving average price of $66.11. Tandem Diabetes Care Inc has a 1 year low of $24.03 and a 1 year high of $74.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.13 and a current ratio of 2.43. The firm has a market cap of $3.90 billion, a P/E ratio of -24.98 and a beta of 0.41.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The firm had revenue of $66.00 million for the quarter, compared to analysts’ expectations of $47.55 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The company’s revenue for the quarter was up 141.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.82) EPS. On average, equities research analysts expect that Tandem Diabetes Care Inc will post -0.81 earnings per share for the current fiscal year.

Several brokerages have weighed in on TNDM. UBS Group increased their price objective on Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Stifel Nicolaus increased their price objective on Zendesk from $75.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Bank of America set a $120.00 price objective on Walmart and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Tandem Diabetes Care in a report on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.13.

In related news, Director Dick Allen sold 17,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.34, for a total value of $1,042,780.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David B. Berger sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $63.09, for a total value of $126,180.00. Following the completion of the sale, the executive vice president now directly owns 3,765 shares in the company, valued at $237,533.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,719 shares of company stock worth $6,200,929. Company insiders own 6.90% of the company’s stock.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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