T2 Biosystems (NASDAQ:TTOO) posted its quarterly earnings data on Thursday. The medical equipment provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08, Briefing.com reports. The firm had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $2.44 million. T2 Biosystems had a negative return on equity of 556.22% and a negative net margin of 637.62%. The company’s quarterly revenue was up 127.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS.
Shares of NASDAQ TTOO traded up $0.56 during mid-day trading on Friday, reaching $5.84. The company had a trading volume of 903,100 shares, compared to its average volume of 558,494. The company has a debt-to-equity ratio of 1.22, a quick ratio of 7.10 and a current ratio of 7.31. T2 Biosystems has a one year low of $3.75 and a one year high of $9.98.
A number of research analysts recently commented on the company. HC Wainwright set a $14.00 price target on T2 Biosystems and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald set a $11.00 price target on T2 Biosystems and gave the stock a “buy” rating in a research report on Friday. ValuEngine cut T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub upgraded T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.30.
In related news, insider Thomas J. Lowery sold 138,144 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $6.18, for a total value of $853,729.92. Following the transaction, the insider now owns 57,873 shares in the company, valued at $357,655.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates bought a new position in T2 Biosystems in the second quarter valued at about $100,000. Staley Capital Advisers Inc. bought a new position in T2 Biosystems in the second quarter valued at about $116,000. Creative Planning bought a new position in T2 Biosystems in the third quarter valued at about $112,000. Zacks Investment Management bought a new position in T2 Biosystems in the second quarter valued at about $124,000. Finally, Thompson Davis & CO. Inc. bought a new position in T2 Biosystems in the second quarter valued at about $127,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.
About T2 Biosystems
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
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