Lisanti Capital Growth LLC Buys New Stake in Tandem Diabetes Care, Inc. $TNDM

Lisanti Capital Growth LLC purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 253,840 shares of the medical device company’s stock, valued at approximately $4,732,000.

Several other large investors also recently bought and sold shares of the stock. Sessa Capital IM L.P. purchased a new stake in Tandem Diabetes Care in the first quarter valued at approximately $85,574,000. GW&K Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after acquiring an additional 740,499 shares during the period. Stephens Investment Management Group LLC boosted its stake in Tandem Diabetes Care by 1.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock worth $32,392,000 after purchasing an additional 30,854 shares during the period. Jennison Associates LLC grew its position in Tandem Diabetes Care by 12.3% during the 2nd quarter. Jennison Associates LLC now owns 1,658,942 shares of the medical device company’s stock worth $30,923,000 after purchasing an additional 181,834 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Tandem Diabetes Care by 21.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 784,218 shares of the medical device company’s stock valued at $14,618,000 after purchasing an additional 139,230 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Lake Street Capital downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $12.00 in a research note on Monday, August 11th. Barclays decreased their price objective on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Royal Bank Of Canada cut their price target 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. Finally, Citigroup reiterated a “neutral” rating and issued a $15.00 price objective (up from $11.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus target price of $21.25.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $16.26 on Friday. The firm’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $16.20. 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 stock has a market cap of $1.10 billion, a PE ratio of -5.33 and a beta of 1.51. 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 released its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting analysts’ consensus estimates of ($0.31). The firm had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 68.85%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John F. Sheridan acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

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.