Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,386,689 shares of the medical device company’s stock after selling 118,162 shares during the period. Tandem Diabetes Care comprises approximately 1.3% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 22nd biggest position. ArrowMark Colorado Holdings LLC owned 3.63% of Tandem Diabetes Care worth $101,219,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TNDM. Point72 Asia Singapore Pte. Ltd. bought a new position in Tandem Diabetes Care during the 3rd quarter worth $105,000. Point72 Hong Kong Ltd bought a new position in Tandem Diabetes Care in the 3rd quarter valued at about $463,000. Bellevue Group AG increased its stake in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after buying an additional 307,624 shares during the period. Captrust Financial Advisors grew its position in Tandem Diabetes Care by 19.3% in 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 increased its holdings in shares of Tandem Diabetes Care by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock valued at $664,000 after buying an additional 704 shares in the last quarter.

Wall Street Analyst Weigh In

TNDM has been the topic of a number of recent analyst reports. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price on the stock. Canaccord Genuity Group reduced their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Barclays upped their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Trading Down 1.9 %

NASDAQ:TNDM opened at $30.63 on Monday. The company’s 50 day moving average is $34.88 and its 200-day moving average is $40.74. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12 month low of $18.45 and a 12 month high of $53.69. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities analysts anticipate 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.