Brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to announce sales of $25.05 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tandem Diabetes Care’s earnings, with the lowest sales estimate coming in at $24.54 million and the highest estimate coming in at $25.70 million. Tandem Diabetes Care posted sales of $18.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 32%. The company is scheduled to report its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full-year sales of $25.05 million for the current financial year, with estimates ranging from $134.71 million to $137.39 million. For the next fiscal year, analysts expect that the business will report sales of $185.44 million per share, with estimates ranging from $164.33 million to $208.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, March 1st. The medical device company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.13). The firm had revenue of $40.00 million during the quarter, compared to the consensus estimate of $38.41 million. Tandem Diabetes Care’s revenue for the quarter was up 61.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) EPS.
A number of research firms have recently commented on TNDM. ValuEngine downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus restated a “hold” rating and issued a $4.00 price objective on shares of Tandem Diabetes Care in a report on Friday, March 2nd. Zacks Investment Research upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen reiterated a “hold” rating on shares of Tandem Diabetes Care in a research note on Tuesday, February 27th. Finally, Citigroup initiated coverage on Tandem Diabetes Care in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $9.25.
In other Tandem Diabetes Care news, Director Dick Allen acquired 25,539 shares of the stock in a transaction on Tuesday, March 6th. The stock was purchased at an average price of $3.88 per share, for a total transaction of $99,091.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kim D. Blickenstaff acquired 750,000 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 850,539 shares of company stock valued at $1,749,091. Insiders own 20.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew 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 in the last quarter. Russell Investments Group Ltd. grew its stake in Tandem Diabetes Care by 13.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after purchasing an additional 78,748 shares in the last quarter. Finally, Wedbush Securities Inc. grew 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 in the last quarter. Hedge funds and other institutional investors own 8.78% of the company’s stock.
Tandem Diabetes Care (NASDAQ:TNDM) traded down $0.11 during trading on Friday, hitting $3.94. The stock had a trading volume of 802,581 shares, compared to its average volume of 1,470,000. The stock has a market cap of $39.87, a P/E ratio of -0.18 and a beta of 0.20. The company has a current ratio of 1.78, a quick ratio of 1.03 and a debt-to-equity ratio of -2.63. Tandem Diabetes Care has a 52 week low of $2.14 and a 52 week high of $23.00.
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About Tandem Diabetes Care
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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