Tandem Diabetes Care Inc (TNDM) Expected to Post Earnings of -$0.44 Per Share
Brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to announce earnings of ($0.44) per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Tandem Diabetes Care’s earnings. The highest EPS estimate is ($0.38) and the lowest is ($0.61). Tandem Diabetes Care reported earnings of ($0.97) per share in the same quarter last year, which would suggest a positive year over year growth rate of 54.6%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full-year earnings of ($1.82) per share for the current fiscal year, with EPS estimates ranging from ($2.40) to ($1.46). For the next fiscal year, analysts forecast that the company will report earnings of ($1.21) per share, with EPS estimates ranging from ($2.18) to ($0.76). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.04. The firm had revenue of $21.30 million during the quarter, compared to the consensus estimate of $21.74 million. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.60) EPS.
TNDM has been the topic of several research reports. Zacks Investment Research cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. B. Riley reaffirmed a “neutral” rating and set a $1.50 price objective on shares of Tandem Diabetes Care in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $4.71.
Hedge funds have recently modified their holdings of the company. Frontier Capital Management Co. LLC boosted its stake in shares of Tandem Diabetes Care by 348.5% in the first quarter. Frontier Capital Management Co. LLC now owns 4,901,870 shares of the medical device company’s stock worth $5,882,000 after buying an additional 3,808,950 shares in the last quarter. Paulson & CO. Inc. bought a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $600,000. Bank of America Corp DE boosted its stake in shares of Tandem Diabetes Care by 88.6% in the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after buying an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $360,000. Finally, Falcon Point Capital LLC bought a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $313,000. 45.22% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tandem Diabetes Care (NASDAQ TNDM) traded down 2.9934% on Wednesday, reaching $0.7324. The company’s stock had a trading volume of 4,430,632 shares. Tandem Diabetes Care has a 12-month low of $0.39 and a 12-month high of $8.81. The company’s 50 day moving average price is $0.61 and its 200 day moving average price is $1.22. The company’s market cap is $36.79 million.
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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