Tandem Diabetes Care, Inc. $TNDM Shares Acquired by First Light Asset Management LLC

First Light Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 20.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,314,715 shares of the medical device company’s stock after purchasing an additional 225,222 shares during the period. Tandem Diabetes Care comprises approximately 2.3% of First Light Asset Management LLC’s holdings, making the stock its 16th biggest holding. First Light Asset Management LLC owned 1.92% of Tandem Diabetes Care worth $25,203,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in 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 during the last quarter. Smartleaf Asset Management LLC increased 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 buying an additional 593 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Tandem Diabetes Care in the first quarter worth $35,000. Quarry LP raised its holdings in shares of Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Tandem Diabetes Care by 36.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after acquiring an additional 909 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $17.12 on Monday. The company has a market cap of $1.17 billion, a P/E ratio of -12.23 and a beta of 1.58. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $29.65. The business has a fifty day simple moving average of $16.14 and a 200-day simple moving average of $19.03.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. During the same period in the prior year, the firm posted ($0.66) earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TNDM. Zacks Research lowered Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, June 23rd. They issued a “hold” rating and a $15.50 target price for the company. Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a report on Friday, April 24th. The Goldman Sachs Group set a $21.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $28.93.

About Tandem Diabetes Care

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.