Brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to post sales of $25.15 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Tandem Diabetes Care’s earnings. The highest sales estimate is $25.70 million and the lowest is $24.54 million. Tandem Diabetes Care posted sales of $18.98 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full-year sales of $25.15 million for the current financial year, with estimates ranging from $135.10 million to $137.39 million. For the next financial year, analysts expect that the company will report sales of $180.97 million per share, with estimates ranging from $164.33 million to $208.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.13). The company had revenue of $40.00 million during the quarter, compared to analyst estimates of $38.41 million. The company’s revenue for the quarter was up 61.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.48) EPS.
TNDM has been the subject of several recent research reports. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research note on Wednesday, December 6th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, February 26th. They issued a “buy” rating and a $6.00 price target for the company. Citigroup initiated coverage on Tandem Diabetes Care in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 price target for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price target on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Finally, ValuEngine cut Tandem Diabetes Care from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.25.
Shares of TNDM stock opened at $3.79 on Wednesday. The company has a debt-to-equity ratio of -2.63, a current ratio of 1.78 and a quick ratio of 1.03. The stock has a market capitalization of $180.59, a P/E ratio of -0.23 and a beta of 0.20. Tandem Diabetes Care has a 12 month low of $2.14 and a 12 month high of $18.00.
In other Tandem Diabetes Care news, Director Dick Allen bought 25,539 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was purchased at an average cost of $3.88 per share, for a total transaction of $99,091.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kim D. Blickenstaff bought 750,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Insiders have acquired 850,539 shares of company stock valued at $1,749,091 over the last 90 days. Corporate insiders own 20.90% of the company’s stock.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Russell Investments Group Ltd. boosted its stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659,993 shares of the medical device company’s stock after purchasing an additional 78,748 shares during the period. Russell Investments Group Ltd. owned about 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.74% of the company’s stock.
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About Tandem Diabetes Care
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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