Beaconlight Capital LLC Boosts Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Beaconlight Capital LLC lifted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 53.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,209 shares of the medical device company's stock after purchasing an additional 115,594 shares during the quarter. Tandem Diabetes Care comprises 4.4% of Beaconlight Capital LLC's portfolio, making the stock its 7th largest position. Beaconlight Capital LLC owned approximately 0.50% of Tandem Diabetes Care worth $11,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TNDM. AlphaQuest LLC boosted its position in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after buying an additional 541 shares during the period. Jones Financial Companies Lllp boosted its position in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after acquiring an additional 748 shares during the period. Assetmark Inc. grew its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after purchasing an additional 535 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after purchasing an additional 1,101 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Tandem Diabetes Care by 5,955.9% during the fourth quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock valued at $74,000 after purchasing an additional 2,025 shares in the last quarter.

Tandem Diabetes Care Trading Up 4.4 %

NASDAQ TNDM traded up $0.94 on Wednesday, hitting $22.26. 1,473,406 shares of the stock were exchanged, compared to its average volume of 1,501,329. The company's 50-day moving average price is $18.55 and its two-hundred day moving average price is $28.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $53.69. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -11.53 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly 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). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. During the same quarter in the prior year, the firm posted ($0.65) EPS. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Citigroup cut Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Morgan Stanley lowered Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Mizuho started coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.81.

Insider Transactions at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.

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.