Wall Street brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to report $42.74 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tandem Diabetes Care’s earnings, with the lowest sales estimate coming in at $42.52 million and the highest estimate coming in at $43.00 million. Tandem Diabetes Care posted sales of $27.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 58.3%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, November 1st.
According to Zacks, analysts expect that Tandem Diabetes Care will report full year sales of $155.73 million for the current year, with estimates ranging from $155.42 million to $156.00 million. For the next financial year, analysts forecast that the business will post sales of $202.89 million, with estimates ranging from $194.70 million to $207.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Monday, July 30th. The medical device company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.82). The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $29.68 million. During the same quarter last year, the firm posted ($0.44) EPS. The business’s quarterly revenue was up 60.1% on a year-over-year basis.
Several research firms have weighed in on TNDM. Robert W. Baird cut shares of Tandem Diabetes Care from an “outperform” rating to a “neutral” rating in a research report on Friday, September 14th. Oppenheimer reiterated a “buy” rating and set a $57.00 price objective on shares of Tandem Diabetes Care in a research report on Tuesday, September 25th. Piper Jaffray Companies reiterated an “overweight” rating and set a $56.00 price objective (up from $32.00) on shares of Tandem Diabetes Care in a research report on Wednesday, September 26th. ValuEngine upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 4th. Finally, MED lifted their price objective on shares of Tandem Diabetes Care from $38.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $43.73.
In other news, Director Richard P. Valencia bought 1,754 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was purchased at an average price of $28.50 per share, with a total value of $49,989.00. Following the transaction, the director now directly owns 1,754 shares in the company, valued at $49,989. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.30% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in TNDM. Legal & General Group Plc acquired a new position in Tandem Diabetes Care during the 2nd quarter worth $147,000. Element Capital Management LLC bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth about $184,000. A.R.T. Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 284.4% during the 1st quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after purchasing an additional 28,499 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $203,000. Finally, Barclays PLC increased its holdings in shares of Tandem Diabetes Care by 75.7% during the 1st quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock worth $234,000 after purchasing an additional 20,300 shares during the period. 62.89% of the stock is owned by hedge funds and other institutional investors.
NASDAQ TNDM traded down $2.47 on Friday, hitting $36.12. 1,941,400 shares of the stock were exchanged, compared to its average volume of 2,489,668. Tandem Diabetes Care has a 52-week low of $2.14 and a 52-week high of $52.55. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.43 and a current ratio of 3.02. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -2.81 and a beta of 0.36.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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