Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is Beaconlight Capital LLC’s 7th Largest Position

Beaconlight Capital LLC raised its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 53.6% during the 4th quarter, Holdings Channel reports. The fund owned 331,209 shares of the medical device company’s stock after purchasing an additional 115,594 shares during the period. Tandem Diabetes Care makes up approximately 4.4% of Beaconlight Capital LLC’s investment portfolio, making the stock its 7th biggest position. Beaconlight Capital LLC’s holdings in Tandem Diabetes Care were worth $11,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TNDM. JPMorgan Chase & Co. lifted its stake in shares of Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after purchasing an additional 113,355 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after buying an additional 1,101 shares during the period. US Bancorp DE lifted its position in Tandem Diabetes Care by 15.2% in the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock worth $1,394,000 after buying an additional 5,108 shares during the last quarter. KBC Group NV boosted its stake in Tandem Diabetes Care by 41.5% during the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock worth $6,933,000 after buying an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock valued at $236,000 after acquiring an additional 1,184 shares during the last quarter.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $21.48 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $53.69. The business has a 50-day moving average price of $18.80 and a 200 day moving average price of $28.57. The company has a market capitalization of $1.43 billion, a P/E ratio of -11.13 and a beta of 1.52.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $234.42 million for the quarter, compared to analysts’ expectations of $220.19 million. During the same quarter in the prior year, the company earned ($0.65) EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TNDM shares. Barclays lowered their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Mizuho assumed coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price for the company. The Goldman Sachs Group reduced their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus dropped their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday. Finally, Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.81.

Tandem Diabetes Care Company 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.