Corton Capital Inc. Takes $243,000 Position in Tandem Diabetes Care, Inc. $TNDM

Corton Capital Inc. bought a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,038 shares of the medical device company’s stock, valued at approximately $243,000.

A number of other large investors also recently added to or reduced their stakes in TNDM. Teacher Retirement System of Texas grew its holdings in Tandem Diabetes Care by 17.8% during the 1st quarter. Teacher Retirement System of Texas now owns 32,465 shares of the medical device company’s stock valued at $622,000 after buying an additional 4,895 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Tandem Diabetes Care by 2.9% during the first quarter. Principal Financial Group Inc. now owns 399,450 shares of the medical device company’s stock worth $7,653,000 after acquiring an additional 11,103 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Tandem Diabetes Care by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company’s stock valued at $6,103,000 after acquiring an additional 64,467 shares in the last quarter. Brown Advisory Inc. increased its holdings in Tandem Diabetes Care by 1.3% in the 1st quarter. Brown Advisory Inc. now owns 925,310 shares of the medical device company’s stock valued at $17,729,000 after acquiring an additional 12,223 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Tandem Diabetes Care by 32.2% in the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company’s stock worth $1,456,000 after purchasing an additional 18,529 shares in the last quarter.

Insider Transactions at Tandem Diabetes Care

In other news, CFO Leigh Vosseller acquired 13,720 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was acquired 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 approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Sheridan bought 10,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. The trade was a 10.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TNDM. Citigroup restated a “neutral” rating and set a $15.00 price objective (up previously from $11.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 7th. Canaccord Genuity Group restated a “buy” rating and set a $24.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 29th. UBS Group decreased their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Piper Sandler lowered shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their target price for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Truist Financial set a $16.00 price target on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average target price of $21.19.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $14.36 on Tuesday. The firm has a market capitalization of $970.31 million, a PE ratio of -4.65 and a beta of 1.51. The stock’s fifty day moving average is $13.47 and its 200 day moving average is $16.25. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $38.28. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The firm had revenue of $240.68 million for the quarter, compared to the consensus estimate 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 revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. On average, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

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.