First Light Asset Management LLC Grows Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

First Light Asset Management LLC boosted its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 49.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 708,482 shares of the medical device company’s stock after purchasing an additional 233,405 shares during the period. Tandem Diabetes Care makes up 2.5% of First Light Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. First Light Asset Management LLC owned about 1.08% of Tandem Diabetes Care worth $28,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TNDM. GAMMA Investing LLC lifted its position in Tandem Diabetes Care by 11.2% in the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after purchasing an additional 431 shares during the period. MN Wealth Advisors LLC lifted its stake in shares of Tandem Diabetes Care by 3.1% during the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after buying an additional 440 shares during the period. MCF Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the last quarter. Signaturefd LLC boosted its stake in Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after buying an additional 522 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tandem Diabetes Care by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock valued at $603,000 after buying an additional 592 shares during the period.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $45.42 on Tuesday. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average of $42.22 and a 200-day moving average of $40.86. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $53.69. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -20.93 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. During the same period last year, the company posted ($0.30) EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Oppenheimer lifted their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus target price of $54.36.

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.