Tandem Diabetes Care, Inc. (TNDM) Expected to Post Quarterly Sales of $26.16 Million
Brokerages predict that Tandem Diabetes Care, Inc. (NASDAQ:TNDM) will announce $26.16 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Tandem Diabetes Care’s earnings, with the lowest sales estimate coming in at $24.48 million and the highest estimate coming in at $27.22 million. Tandem Diabetes Care reported sales of $12.29 million during the same quarter last year, which indicates a positive year over year growth rate of 112.9%. The firm is expected to report its next earnings report on Tuesday, November 7th.
On average, analysts expect that Tandem Diabetes Care will report full-year sales of $26.16 million for the current fiscal year, with estimates ranging from $99.70 million to $103.36 million. For the next year, analysts expect that the business will report sales of $145.29 million per share, with estimates ranging from $138.59 million to $154.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.04. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The company had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.74 million. During the same period last year, the firm posted ($0.60) EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis.
TNDM has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. B. Riley reiterated a “neutral” rating and set a $1.50 price target on shares of Tandem Diabetes Care in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.71.
Tandem Diabetes Care (NASDAQ:TNDM) opened at 0.6222 on Friday. The company’s market capitalization is $31.25 million. Tandem Diabetes Care has a 52-week low of $0.39 and a 52-week high of $8.81. The stock has a 50 day moving average of $0.61 and a 200-day moving average of $1.21.
Several large investors have recently modified their holdings of the stock. Wrapmanager Inc. increased its stake in shares of Tandem Diabetes Care by 59.2% in the first quarter. Wrapmanager Inc. now owns 96,405 shares of the medical device company’s stock valued at $116,000 after buying an additional 35,866 shares in the last quarter. Iguana Healthcare Management LLC increased its stake in shares of Tandem Diabetes Care by 33.3% in the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock valued at $120,000 after buying an additional 25,000 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of Tandem Diabetes Care by 31.0% in the first quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock valued at $144,000 after buying an additional 28,320 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $180,000. Finally, Group One Trading L.P. purchased a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $185,000. Institutional investors own 45.22% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/08/18/tandem-diabetes-care-inc-tndm-expected-to-post-quarterly-sales-of-26-16-million.html.
Tandem Diabetes Care Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tandem Diabetes Care Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care Inc. and related companies with MarketBeat.com's FREE daily email newsletter.