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

ArrowMark Colorado Holdings LLC boosted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 14.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,723,715 shares of the medical device company’s stock after purchasing an additional 337,026 shares during the quarter. Tandem Diabetes Care comprises approximately 1.3% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 23rd largest holding. ArrowMark Colorado Holdings LLC’s holdings in Tandem Diabetes Care were worth $98,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock worth $683,000 after buying an additional 362 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after purchasing an additional 409 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Tandem Diabetes Care by 8.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after purchasing an additional 525 shares in the last quarter. Assetmark Inc. increased its position in 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 during the last quarter. Finally, AlphaQuest LLC raised its stake in 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 purchasing an additional 541 shares in the last quarter.

Tandem Diabetes Care Trading Up 7.5 %

Shares of TNDM opened at $21.48 on Friday. 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 firm has a market capitalization of $1.43 billion, a P/E ratio of -11.13 and a beta of 1.52. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69. The firm’s 50-day moving average is $18.80 and its two-hundred day moving average is $28.63.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $220.19 million. During the same quarter last year, the firm posted ($0.65) earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TNDM. Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday. Sanford C. Bernstein cut Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Finally, Robert W. Baird decreased 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 research note on Thursday. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.81.

Insider Activity

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

About Tandem Diabetes Care

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.