Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by American International Group Inc.

Posted by on Jun 4th, 2023

American International Group Inc. trimmed its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,438 shares of the medical device company’s stock after selling 1,211 shares during the quarter. American International Group Inc. owned about 0.16% of Tandem Diabetes Care worth $4,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in Tandem Diabetes Care during the 4th quarter valued at $26,000. Nisa Investment Advisors LLC raised its stake in Tandem Diabetes Care by 522.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 610 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 512 shares in the last quarter. Signaturefd LLC raised its stake in Tandem Diabetes Care by 106.0% during the 3rd quarter. Signaturefd LLC now owns 620 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 319 shares in the last quarter. Advent Capital Management DE bought a new stake in Tandem Diabetes Care during the 3rd quarter valued at $47,000. Finally, CoreCap Advisors LLC bought a new stake in Tandem Diabetes Care during the 4th quarter valued at $50,000. 96.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cowen cut their target price on Tandem Diabetes Care from $61.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. UBS Group started coverage on Tandem Diabetes Care in a research report on Tuesday, March 28th. They set a “neutral” rating and a $45.00 price target on the stock. Piper Sandler lowered their price target on Tandem Diabetes Care from $70.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, February 23rd. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. Finally, Craig Hallum lowered their price target on Tandem Diabetes Care from $80.00 to $74.00 in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.14.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 3,015 shares of the stock in a transaction dated Friday, May 12th. The shares were acquired at an average price of $32.77 per share, for a total transaction of $98,801.55. Following the completion of the acquisition, the chief financial officer now owns 5,660 shares of the company’s stock, valued at approximately $185,478.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 3,015 shares of the stock in a transaction dated Friday, May 12th. The shares were acquired at an average price of $32.77 per share, for a total transaction of $98,801.55. Following the completion of the acquisition, the chief financial officer now owns 5,660 shares of the company’s stock, valued at approximately $185,478.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dick Allen purchased 10,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $29.47 per share, for a total transaction of $294,700.00. Following the acquisition, the director now directly owns 12,205 shares of the company’s stock, valued at approximately $359,681.35. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $24.77 on Friday. Tandem Diabetes Care, Inc. has a 52-week low of $24.13 and a 52-week high of $70.81. The company has a quick ratio of 3.66, a current ratio of 4.43 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -7.81 and a beta of 0.93. The stock’s fifty day simple moving average is $35.47 and its 200 day simple moving average is $39.39.

Tandem Diabetes Care Profile

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Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006, and is headquartered in San Diego, CA.

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

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