Beaconlight Capital LLC Takes $4.87 Million Position in Tandem Diabetes Care, Inc. $TNDM

Beaconlight Capital LLC acquired a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the first quarter, Holdings Channel.com reports. The fund acquired 253,877 shares of the medical device company’s stock, valued at approximately $4,867,000. Tandem Diabetes Care accounts for 2.6% of Beaconlight Capital LLC’s holdings, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TNDM. State of Alaska Department of Revenue grew its position in Tandem Diabetes Care by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock worth $849,000 after acquiring an additional 523 shares during the period. ProShare Advisors LLC boosted its position in shares of Tandem Diabetes Care by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock worth $290,000 after buying an additional 579 shares during the period. Smartleaf Asset Management LLC lifted its stake in Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Tandem Diabetes Care by 1.1% during the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock valued at $1,253,000 after acquiring an additional 617 shares during the period. Finally, LPL Financial LLC boosted its holdings in Tandem Diabetes Care by 1.8% during the 4th quarter. LPL Financial LLC now owns 39,590 shares of the medical device company’s stock valued at $870,000 after acquiring an additional 716 shares during the period.

Tandem Diabetes Care Stock Up 1.3%

Shares of Tandem Diabetes Care stock opened at $17.12 on Friday. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The company has a market cap of $1.17 billion, a P/E ratio of -12.23 and a beta of 1.58. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65. The firm has a fifty day moving average of $16.14 and a two-hundred day moving average of $19.06.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results 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. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same quarter in the previous year, the firm posted ($0.66) EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group set a $21.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, May 27th. Bank of America decreased their target price on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, May 18th. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th. Benchmark initiated coverage on shares of Tandem Diabetes Care in a research note on Monday, May 11th. They set a “hold” rating on the stock. Finally, Barclays set a $55.00 target price on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.93.

Tandem Diabetes Care 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.