Analysts expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to report sales of $88.46 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Tandem Diabetes Care’s earnings, with the highest sales estimate coming in at $94.38 million and the lowest estimate coming in at $86.20 million. Tandem Diabetes Care reported sales of $46.26 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 91.2%. The firm is expected to report its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full year sales of $359.29 million for the current fiscal year, with estimates ranging from $354.95 million to $364.40 million. For the next financial year, analysts expect that the company will post sales of $430.38 million, with estimates ranging from $402.00 million to $455.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.20. Tandem Diabetes Care had a negative return on equity of 19.31% and a negative net margin of 19.55%. The company had revenue of $93.26 million during the quarter, compared to the consensus estimate of $69.95 million. During the same period in the previous year, the company posted ($0.33) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 173.2% on a year-over-year basis.
A number of research analysts have issued reports on TNDM shares. Stifel Nicolaus boosted their price target on Tandem Diabetes Care from $58.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Lake Street Capital reaffirmed a “buy” rating on shares of Tandem Diabetes Care in a research note on Monday, June 17th. Svb Leerink initiated coverage on Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 target price for the company. ValuEngine raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, BidaskClub raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.38.
In related news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $67.76, for a total transaction of $135,520.00. Following the completion of the sale, the executive vice president now directly owns 5,311 shares in the company, valued at $359,873.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian B. Hansen sold 13,031 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $70.04, for a total value of $912,691.24. Following the sale, the executive vice president now owns 16,022 shares of the company’s stock, valued at $1,122,180.88. The disclosure for this sale can be found here. Insiders have sold 108,954 shares of company stock valued at $7,398,525 over the last quarter. 6.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in Tandem Diabetes Care by 53.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock valued at $30,000 after buying an additional 160 shares in the last quarter. James Investment Research Inc. lifted its stake in shares of Tandem Diabetes Care by 15.9% in the 2nd quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock valued at $85,000 after purchasing an additional 180 shares during the last quarter. TD Asset Management Inc. lifted its stake in shares of Tandem Diabetes Care by 1.9% in the 2nd quarter. TD Asset Management Inc. now owns 10,900 shares of the medical device company’s stock valued at $703,000 after purchasing an additional 200 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Tandem Diabetes Care by 0.3% in the 1st quarter. Rhumbline Advisers now owns 68,183 shares of the medical device company’s stock valued at $4,330,000 after purchasing an additional 202 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Tandem Diabetes Care by 11.3% in the 1st quarter. Meeder Asset Management Inc. now owns 4,475 shares of the medical device company’s stock valued at $284,000 after purchasing an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.
NASDAQ:TNDM traded up $1.65 during trading hours on Friday, reaching $58.76. The company had a trading volume of 946,319 shares, compared to its average volume of 1,735,833. Tandem Diabetes Care has a 1-year low of $26.40 and a 1-year high of $74.81. The firm has a market cap of $3.72 billion, a PE ratio of -23.04 and a beta of 0.33. The business’s 50 day moving average price is $63.55 and its 200-day moving average price is $62.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.53 and a quick ratio of 2.21.
About Tandem Diabetes Care
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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