Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,723,715 shares of the medical device company's stock after buying an additional 337,026 shares during the quarter. Tandem Diabetes Care comprises about 1.3% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 23rd largest position. ArrowMark Colorado Holdings LLC owned about 4.15% of Tandem Diabetes Care worth $98,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Tandem Diabetes Care by 95.6% in the 3rd quarter. Franklin Resources Inc. now owns 26,785 shares of the medical device company's stock valued at $1,136,000 after acquiring an additional 13,088 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Tandem Diabetes Care by 134.6% during the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock worth $8,379,000 after acquiring an additional 113,355 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Tandem Diabetes Care by 34.5% in the fourth quarter. Park Avenue Securities LLC now owns 8,914 shares of the medical device company's stock worth $321,000 after acquiring an additional 2,286 shares during the period. LVW Advisors LLC grew its position in shares of Tandem Diabetes Care by 13.8% in the fourth quarter. LVW Advisors LLC now owns 7,798 shares of the medical device company's stock valued at $281,000 after purchasing an additional 944 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Tandem Diabetes Care by 17.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,240 shares of the medical device company's stock valued at $1,089,000 after purchasing an additional 4,412 shares during the period.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM traded up $0.99 during midday trading on Thursday, hitting $23.25. 746,750 shares of the stock traded hands, compared to its average volume of 1,498,562. The firm has a market capitalization of $1.55 billion, a P/E ratio of -12.05 and a beta of 1.47. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a 50-day moving average of $18.55 and a two-hundred day moving average of $28.34.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) 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). The firm had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.65) EPS. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TNDM. Canaccord Genuity Group increased their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Sanford C. Bernstein lowered Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Piper Sandler dropped their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Citigroup cut Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird cut their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Moderate Buy" and an average target price of $39.81.

Tandem Diabetes Care 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.