First Light Asset Management LLC Sells 733,190 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

First Light Asset Management LLC decreased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,117 shares of the medical device company's stock after selling 733,190 shares during the period. Tandem Diabetes Care comprises about 1.0% of First Light Asset Management LLC's portfolio, making the stock its 27th largest holding. First Light Asset Management LLC owned approximately 0.44% of Tandem Diabetes Care worth $10,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. AlphaQuest LLC boosted its holdings 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 valued at $34,000 after acquiring an additional 541 shares during the period. Jones Financial Companies Lllp lifted its position in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after purchasing an additional 748 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care during the 3rd quarter valued at about $52,000. Assetmark Inc. grew its position in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after purchasing an additional 535 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Tandem Diabetes Care by 163.4% in 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus lowered their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday. Robert W. Baird reduced their price objective on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday. Citigroup lowered shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.81.

Insiders Place Their Bets

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM traded up $1.50 during mid-day trading on Friday, reaching $21.48. The company had a trading volume of 1,992,969 shares, compared to its average volume of 1,520,531. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $53.69. The stock has a market cap of $1.43 billion, a PE ratio of -11.13 and a beta of 1.52. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $28.75.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. Tandem Diabetes Care's quarterly revenue was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

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.