Brooklyn Investment Group Boosts Stock Position in Tandem Diabetes Care, Inc. $TNDM

Brooklyn Investment Group boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 417.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,397 shares of the medical device company’s stock after acquiring an additional 2,741 shares during the quarter. Brooklyn Investment Group’s holdings in Tandem Diabetes Care were worth $65,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TNDM. Assetmark Inc. boosted its holdings in 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 acquiring an additional 525 shares during the period. NBC Securities Inc. purchased a new position in Tandem Diabetes Care during the 1st quarter valued at $37,000. State of Wyoming boosted its holdings in Tandem Diabetes Care by 95.9% during the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock valued at $108,000 after acquiring an additional 1,467 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Tandem Diabetes Care by 102.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the medical device company’s stock valued at $141,000 after acquiring an additional 1,977 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter worth $205,000.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $11.93 on Friday. The company has a market cap of $806.11 million, a PE ratio of -3.86 and a beta of 1.46. The stock’s 50 day simple moving average is $15.58 and its 200-day simple moving average is $19.80. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $47.60. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing the consensus estimate 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 company had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same period in the prior year, the business posted ($0.47) EPS. Tandem Diabetes Care’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Canaccord Genuity Group set a $24.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a report on Thursday, August 7th. Robert W. Baird dropped their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Truist Financial began coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They set a “hold” rating and a $24.00 price target on the stock. Wall Street Zen downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Finally, Piper Sandler downgraded Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Tandem Diabetes Care has an average rating of “Hold” and a consensus target price of $22.47.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller bought 13,720 shares of the business’s stock in a transaction on Friday, August 8th. The stock was bought 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 in the company, valued at $278,566.20. The trade was a 115.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John F. Sheridan bought 10,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.23 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares of the company’s stock, valued at $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

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.