First Light Asset Management LLC Boosts Position in Tandem Diabetes Care, Inc. $TNDM

First Light Asset Management LLC lifted its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 157.4% during the 2nd quarter, according to its most recent filing with the Securities & 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 approximately 3.1% of First Light Asset Management LLC’s holdings, making the stock its 13th biggest position. First Light Asset Management LLC owned approximately 4.86% of Tandem Diabetes Care worth $51,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TNDM. Engineers Gate Manager LP bought a new position in shares of Tandem Diabetes Care during the 2nd quarter valued at approximately $976,000. Integrated Wealth Concepts LLC bought a new stake in shares of Tandem Diabetes Care in the second quarter worth about $33,000. Squarepoint Ops LLC purchased a new stake in Tandem Diabetes Care during the second quarter valued at $3,280,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at about $395,000. Finally, California State Teachers Retirement System lifted its stake in shares of Tandem Diabetes Care by 1,283.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,165,355 shares of the medical device company’s stock valued at $17,585,000 after purchasing an additional 1,081,100 shares during the last quarter.

Wall Street Analysts Forecast Growth

TNDM has been the subject of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Canaccord Genuity Group set a $40.00 price objective on Tandem Diabetes Care in a research note on Friday, August 7th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $27.00 in a report on Monday, June 1st. Weiss Ratings downgraded Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. One 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 given a Sell rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $29.34.

Tandem Diabetes Care Trading Down 3.9%

Shares of NASDAQ:TNDM opened at $19.11 on Thursday. The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62. Tandem Diabetes Care, Inc. has a 12-month low of $11.46 and a 12-month high of $29.65. The business has a 50 day moving average of $19.37 and a two-hundred day moving average of $19.25. The company has a market capitalization of $1.33 billion, a PE ratio of -20.55 and a beta of 1.55.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data 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. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $254.99 million. During the same quarter last year, the company earned ($0.78) EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current year.

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.