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

First Light Asset Management LLC increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 20.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,314,715 shares of the medical device company’s stock after buying an additional 225,222 shares during the quarter. Tandem Diabetes Care comprises about 2.3% of First Light Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. First Light Asset Management LLC’s holdings in Tandem Diabetes Care were worth $25,203,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Freestone Grove Partners LP acquired a new position in Tandem Diabetes Care in the third quarter valued at $22,706,000. BNP Paribas Financial Markets raised its holdings in shares of Tandem Diabetes Care by 468.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after purchasing an additional 1,028,866 shares during the period. Marshall Wace LLP purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth about $19,244,000. Jennison Associates LLC lifted its stake in shares of Tandem Diabetes Care by 42.3% in the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Tandem Diabetes Care during the 1st quarter worth about $6,570,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TNDM shares. Weiss Ratings downgraded shares of Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Truist Financial reiterated a “buy” rating and set a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Wells Fargo & Company raised shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their target price for the company from $21.00 to $27.00 in a research note on Monday, June 1st. Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a report on Friday, April 24th. Finally, Benchmark assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, May 11th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and an average price target of $28.93.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $17.12 on Monday. The firm has a market capitalization of $1.17 billion, a PE ratio of -12.23 and a beta of 1.58. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65. The stock’s 50 day moving average price is $16.14 and its 200 day moving average price is $19.03. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. Tandem Diabetes Care’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.66) earnings per share. As a group, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current fiscal year.

Tandem Diabetes Care Company 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.