Beaconlight Capital LLC Takes Position in Tandem Diabetes Care, Inc. $TNDM

Key Points

• Beaconlight Capital LLC opened a new position in Tandem Diabetes Care during the first quarter, buying 253,877 shares worth about $4.87 million. The stake represents roughly 2.6% of Beaconlight’s portfolio and about 0.37% of Tandem’s outstanding shares.
• Institutional interest in TNDM was mixed but generally positive, with several funds increasing holdings while some added new stakes. Notable moves included Arrowstreet Capital boosting its position by 42.6% and First Trust Advisors making a new purchase.
• Analyst sentiment remains cautious overall: Wells Fargo upgraded the stock to overweight and lifted its target to $27, while other firms cut targets or kept neutral ratings. Tandem recently beat quarterly EPS and revenue estimates, and the stock opened at $17.12 with an average analyst rating of Hold.

Beaconlight Capital LLC bought a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 253,877 shares of the medical device company's stock, valued at approximately $4,867,000. Tandem Diabetes Care makes up about 2.6% of Beaconlight Capital LLC's portfolio, making the stock its 12th biggest position. Beaconlight Capital LLC owned approximately 0.37% of Tandem Diabetes Care at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TNDM. Arrowstreet Capital Limited Partnership lifted its position in Tandem Diabetes Care by 42.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company's stock valued at $3,710,000 after acquiring an additional 57,803 shares during the last quarter. Mizuho Markets Americas LLC increased its position in shares of Tandem Diabetes Care by 8.8% during the first quarter. Mizuho Markets Americas LLC now owns 157,362 shares of the medical device company's stock worth $3,017,000 after purchasing an additional 12,745 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at $6,570,000. Principal Financial Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 331,541 shares of the medical device company's stock valued at $6,356,000 after purchasing an additional 7,279 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Tandem Diabetes Care by 17.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company's stock worth $302,000 after purchasing an additional 2,320 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on TNDM. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from a "buy" rating to an "overweight" rating and upped their price objective for the company from $21.00 to $27.00 in a report on Monday, June 1st. Mizuho lowered their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 15th. Bank of America dropped their target price on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. TD Cowen reaffirmed a "buy" rating and issued a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $17.00 price target (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care presently has an average rating of "Hold" and an average target price of $28.93.

Tandem Diabetes Care Stock Up 1.3%

TNDM stock opened at $17.12 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -12.23 and a beta of 1.58. The firm has a 50-day simple moving average of $16.14 and a 200-day simple moving average of $19.06. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. Tandem Diabetes Care, Inc. has a 52 week low of $9.98 and a 52 week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to analysts' expectations of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.66) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 earnings per share 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.

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