T2 Biosystems, Inc. (TTOO) Expected to Post Earnings of -$0.43 Per Share

Equities research analysts expect T2 Biosystems, Inc. (NASDAQ:TTOO) to report earnings per share of ($0.43) for the current quarter, Zacks reports. Two analysts have made estimates for T2 Biosystems’ earnings, with the highest EPS estimate coming in at ($0.39) and the lowest estimate coming in at ($0.49). T2 Biosystems posted earnings of ($0.47) per share during the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The business is expected to report its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that T2 Biosystems will report full-year earnings of ($1.88) per share for the current year, with EPS estimates ranging from ($1.97) to ($1.81). For the next financial year, analysts forecast that the firm will report earnings of ($1.68) per share, with EPS estimates ranging from ($1.97) to ($1.53). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover T2 Biosystems.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. T2 Biosystems had a negative net margin of 1,497.70% and a negative return on equity of 244.82%. The company had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $1.10 million. The company’s revenue was up 2.8% compared to the same quarter last year.

A number of research analysts have weighed in on TTOO shares. ValuEngine raised shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. HC Wainwright started coverage on shares of T2 Biosystems in a report on Wednesday, October 18th. They issued a “buy” rating and a $8.00 price objective for the company. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $6.00 price objective on shares of T2 Biosystems in a report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.54.

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T2 Biosystems (TTOO) traded up $0.03 on Thursday, reaching $4.15. 127,600 shares of the company’s stock were exchanged, compared to its average volume of 190,268. T2 Biosystems has a one year low of $2.50 and a one year high of $7.07. The company has a debt-to-equity ratio of 2.25, a current ratio of 5.40 and a quick ratio of 4.57.

Several hedge funds have recently added to or reduced their stakes in TTOO. Bank of New York Mellon Corp increased its stake in shares of T2 Biosystems by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 201 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in T2 Biosystems by 221.8% during the second quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 143,495 shares during the last quarter. LMR Partners LLP acquired a new position in T2 Biosystems during the second quarter worth about $180,000. Senvest Management LLC boosted its position in T2 Biosystems by 15.2% during the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock worth $9,110,000 after acquiring an additional 373,876 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in T2 Biosystems by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock worth $13,709,000 after acquiring an additional 18,000 shares during the last quarter. 54.41% of the stock is owned by institutional investors and hedge funds.

About T2 Biosystems

T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).

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Earnings History and Estimates for T2 Biosystems (NASDAQ:TTOO)

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