ArrowMark Colorado Holdings LLC Has $101.22 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

ArrowMark Colorado Holdings LLC lessened its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,386,689 shares of the medical device company’s stock after selling 118,162 shares during the quarter. Tandem Diabetes Care accounts for about 1.3% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 22nd biggest holding. ArrowMark Colorado Holdings LLC’s holdings in Tandem Diabetes Care were worth $101,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $105,000. Point72 Hong Kong Ltd acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at $463,000. Bellevue Group AG boosted its holdings in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Tandem Diabetes Care by 19.3% during the third quarter. Captrust Financial Advisors now owns 10,170 shares of the medical device company’s stock worth $431,000 after buying an additional 1,647 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock worth $664,000 after purchasing an additional 704 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 target price on the stock. Robert W. Baird cut their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price for the company. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.25.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $30.63 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36. The stock’s fifty day moving average price is $34.88 and its two-hundred day moving average price is $40.74. Tandem Diabetes Care, Inc. has a one year low of $18.45 and a one year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the firm earned ($0.38) earnings per share. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.