Tandem Diabetes Care, Inc. $TNDM Stock Position Raised by ArrowMark Colorado Holdings LLC

Key Points

• ArrowMark Colorado Holdings LLC raised its stake in Tandem Diabetes Care by 36.7% in Q3 to 3,691,198 shares, representing about 5.44% ownership and roughly $44.8 million in value.
• Tandem beat quarterly expectations, reporting ($0.01) EPS vs. a ($0.05) consensus and revenue of $290.38 million (vs. $277.14 million), with revenue up 15.1% year-over-year.
• Analyst sentiment is mixed: the consensus rating is Hold with a $28.11 target, though some firms have upgraded the stock (e.g., Lake Street to Buy with a $50 target) and current coverage shows 1 Strong Buy, 6 Buy, 11 Hold and 1 Sell.

ArrowMark Colorado Holdings LLC lifted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 36.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,691,198 shares of the medical device company's stock after purchasing an additional 991,649 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 5.44% of Tandem Diabetes Care worth $44,811,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TNDM. CoreCap Advisors LLC boosted its position in shares of Tandem Diabetes Care by 270.3% in the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company's stock valued at $58,000 after purchasing an additional 3,468 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Tandem Diabetes Care by 485.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company's stock worth $63,000 after buying an additional 4,269 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth about $97,000. 180 Wealth Advisors LLC purchased a new stake in Tandem Diabetes Care during the third quarter valued at about $126,000. Finally, Praxis Investment Management Inc. purchased a new stake in Tandem Diabetes Care during the third quarter valued at about $150,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Lake Street Capital raised shares of Tandem Diabetes Care from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Monday, February 23rd. Sanford C. Bernstein restated a "market perform" rating and issued a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. TD Cowen began coverage on shares of Tandem Diabetes Care in a research note on Tuesday, January 27th. They issued a "buy" rating and a $25.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, February 20th. Finally, UBS Group reissued a "neutral" rating and set a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.11.

Tandem Diabetes Care Stock Up 3.4%

TNDM stock opened at $21.59 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. The company has a 50-day moving average of $21.34 and a two-hundred day moving average of $18.32. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.03 and a beta of 1.63. 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 released its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. The firm had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. As a group, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current 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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