First Light Asset Management LLC Raises Stock Holdings in Tandem Diabetes Care, Inc. $TNDM

First Light Asset Management LLC raised its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 157.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,383,553 shares of the medical device company’s stock after purchasing an additional 2,068,838 shares during the period. Tandem Diabetes Care comprises 3.1% of First Light Asset Management LLC’s holdings, making the stock its 13th largest position. First Light Asset Management LLC’s holdings in Tandem Diabetes Care were worth $51,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Tandem Diabetes Care during the second quarter worth $33,000. OP Asset Management Ltd purchased a new position in Tandem Diabetes Care during the first quarter valued at $35,000. Finally, Quarry LP lifted its holdings in Tandem Diabetes Care by 2,597.1% during the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares in the last quarter.

Tandem Diabetes Care Stock Down 3.9%

TNDM stock opened at $19.11 on Thursday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. The company’s 50 day moving average price is $19.37 and its 200 day moving average price is $19.25. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -20.55 and a beta of 1.55. Tandem Diabetes Care, Inc. has a fifty-two week low of $11.46 and a fifty-two week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.78) earnings per share. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on TNDM. Canaccord Genuity Group set a $40.00 price objective on Tandem Diabetes Care in a research note on Friday, August 7th. UBS Group began coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price target on the stock. Mizuho cut their target price on Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. William Blair assumed coverage on shares of Tandem Diabetes Care in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.34.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.