$1.09 Million in Sales Expected for T2 Biosystems, Inc. (TTOO) This Quarter
Equities analysts expect T2 Biosystems, Inc. (NASDAQ:TTOO) to report sales of $1.09 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for T2 Biosystems’ earnings, with estimates ranging from $980,000.00 to $1.20 million. T2 Biosystems reported sales of $1.08 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.9%. The company is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that T2 Biosystems will report full-year sales of $1.09 million for the current fiscal year, with estimates ranging from $3.95 million to $4.50 million. For the next financial year, analysts forecast that the firm will report sales of $21.35 million per share, with estimates ranging from $20.40 million to $22.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.01). The company had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%.
Several equities analysts have recently issued reports on TTOO shares. ValuEngine upgraded shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research lowered shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. T2 Biosystems presently has an average rating of “Hold” and an average price target of $6.75.
Shares of T2 Biosystems (NASDAQ TTOO) opened at 6.08 on Friday. The stock’s market capitalization is $187.05 million. T2 Biosystems has a 52 week low of $2.50 and a 52 week high of $8.04. The stock has a 50 day moving average price of $3.93 and a 200 day moving average price of $4.16.
TRADEMARK VIOLATION WARNING: “$1.09 Million in Sales Expected for T2 Biosystems, Inc. (TTOO) This Quarter” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/15/1-09-million-in-sales-expected-for-t2-biosystems-inc-ttoo-this-quarter.html.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in T2 Biosystems by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after acquiring an additional 201 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in T2 Biosystems by 221.8% in the 2nd quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 143,495 shares during the last quarter. Susquehanna International Group LLP raised its holdings in T2 Biosystems by 931.3% in the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after acquiring an additional 95,920 shares during the last quarter. Lagoda Investment Management L.P. raised its holdings in T2 Biosystems by 15.4% in the 2nd quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock worth $6,343,000 after acquiring an additional 264,337 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in T2 Biosystems by 0.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock worth $13,709,000 after acquiring an additional 18,000 shares during the last quarter. Institutional investors own 60.55% of the company’s stock.
About T2 Biosystems
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for T2 Biosystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.