Wall Street analysts expect that Tandem Diabetes Care, Inc. (NASDAQ:TNDM) will report sales of $35.30 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Tandem Diabetes Care’s earnings. The highest sales estimate is $38.33 million and the lowest is $32.70 million. Tandem Diabetes Care posted sales of $28.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.1%. The company is scheduled to announce its next earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full year sales of $35.30 million for the current year, with estimates ranging from $96.20 million to $103.09 million. For the next year, analysts forecast that the firm will post sales of $143.12 million per share, with estimates ranging from $135.03 million to $154.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. The business’s revenue for the quarter was up 119.7% on a year-over-year basis. During the same period last year, the firm posted ($0.97) earnings per share.
TNDM has been the topic of several research reports. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Wednesday, November 1st. Wedbush reissued an “outperform” rating and issued a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 target price on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.95.
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Shares of Tandem Diabetes Care (NASDAQ TNDM) traded up $0.05 during trading hours on Wednesday, reaching $2.29. The company’s stock had a trading volume of 303,629 shares, compared to its average volume of 1,163,862. The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90. Tandem Diabetes Care has a fifty-two week low of $2.15 and a fifty-two week high of $32.50.
In related news, CEO Kim D. Blickenstaff acquired 285,700 shares of the stock in a transaction dated Friday, October 13th. The shares were purchased at an average cost of $3.50 per share, with a total value of $999,950.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. raised its stake in Tandem Diabetes Care by 88.6% during the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 88,709 shares during the period. Keybank National Association OH raised its stake in Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 72,177 shares during the period. Russell Investments Group Ltd. bought a new stake in Tandem Diabetes Care during the 1st quarter valued at approximately $360,000. Bank of America Corp DE raised its stake in Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after purchasing an additional 404,452 shares during the period. Finally, Vanguard Group Inc. raised its stake in Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares during the period.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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