Analysts expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to report sales of $56.15 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Tandem Diabetes Care’s earnings. The lowest sales estimate is $54.70 million and the highest is $57.03 million. Tandem Diabetes Care reported sales of $40.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 39.4%. The company is scheduled to issue its next quarterly earnings results on Thursday, March 7th.
On average, analysts expect that Tandem Diabetes Care will report full-year sales of $163.81 million for the current year, with estimates ranging from $162.30 million to $164.70 million. For the next year, analysts forecast that the business will post sales of $217.16 million, with estimates ranging from $211.10 million to $228.70 million. Zacks’ sales averages 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 released its quarterly earnings results on Thursday, November 1st. The medical device company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative net margin of 93.07% and a negative return on equity of 204.32%. The company had revenue of $46.30 million during the quarter, compared to analyst estimates of $42.71 million. During the same quarter last year, the business earned ($3.09) EPS. The company’s revenue for the quarter was up 71.5% compared to the same quarter last year.
A number of equities analysts recently weighed in on the company. Oppenheimer set a $57.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Friday. BidaskClub lowered Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Lake Street Capital set a $60.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Saturday, November 3rd. Craig Hallum set a $59.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $44.27.
NASDAQ:TNDM opened at $37.19 on Wednesday. Tandem Diabetes Care has a 1-year low of $2.14 and a 1-year high of $52.55.
In other Tandem Diabetes Care news, Director Richard P. Valencia acquired 1,300 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was purchased at an average cost of $37.75 per share, for a total transaction of $49,075.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $37.01, for a total value of $7,327,980.00. The disclosure for this sale can be found here. Company insiders own 9.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth $415,000. JPMorgan Chase & Co. acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth $593,000. A.R.T. Advisors LLC increased its stake in shares of Tandem Diabetes Care by 284.4% in the first quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after acquiring an additional 28,499 shares during the period. Millennium Management LLC acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth $4,225,000. Finally, Royal Bank of Canada increased its stake in shares of Tandem Diabetes Care by 2,375,000.0% in the first quarter. Royal Bank of Canada now owns 47,502 shares of the medical device company’s stock worth $236,000 after acquiring an additional 47,500 shares during the period. Hedge funds and other institutional investors own 62.80% of the company’s stock.
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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