US Bancorp DE Decreases Holdings in Tandem Diabetes Care, Inc. $TNDM

US Bancorp DE cut its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,360 shares of the medical device company’s stock after selling 7,328 shares during the quarter. US Bancorp DE owned 0.05% of Tandem Diabetes Care worth $659,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TNDM. Assetmark Inc. increased its stake in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares during the period. Brooklyn Investment Group increased its stake in shares of Tandem Diabetes Care by 417.8% in the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after buying an additional 2,741 shares during the period. State of Wyoming increased its stake in shares of Tandem Diabetes Care by 49.1% in the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after buying an additional 1,471 shares during the period. AlphaQuest LLC increased its stake in shares of Tandem Diabetes Care by 819.5% in the first quarter. AlphaQuest LLC now owns 8,561 shares of the medical device company’s stock worth $164,000 after buying an additional 7,630 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Tandem Diabetes Care in the first quarter worth $205,000.

Wall Street Analyst Weigh In

TNDM has been the subject of several research analyst reports. Lake Street Capital cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Royal Bank Of Canada dropped their target price on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Truist Financial set a $16.00 target price on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Wednesday. Finally, Piper Sandler cut shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.19.

Insiders Place Their Bets

In other news, CFO Leigh Vosseller purchased 13,720 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at approximately $278,566.20. This trade represents a 115.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John F. Sheridan purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $14.79 on Monday. Tandem Diabetes Care, Inc. has a 12 month low of $9.98 and a 12 month high of $38.28. The stock has a market cap of $999.36 million, a PE ratio of -4.79 and a beta of 1.48. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The company’s fifty day moving average price is $12.62 and its 200-day moving average price is $16.42.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) 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 the consensus estimate of $238.39 million. During the same quarter last year, the firm posted ($0.47) EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Tandem Diabetes Care 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.