T2 Biosystems Inc (TTOO) Expected to Post Quarterly Sales of $1.09 Million
Brokerages predict that T2 Biosystems Inc (NASDAQ:TTOO) will post $1.09 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for T2 Biosystems’ earnings, with the highest sales estimate coming in at $1.20 million and the lowest estimate coming in at $980,000.00. 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 business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that T2 Biosystems will report full-year sales of $1.09 million for the current year, with estimates ranging from $3.95 million to $4.50 million. For the next fiscal year, analysts expect that the business will post sales of $21.35 million per share, with estimates ranging from $20.40 million to $22.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The company had revenue of $0.96 million during the quarter, compared to the consensus estimate of $0.79 million. T2 Biosystems had a negative net margin of 1,616.74% and a negative return on equity of 323.26%.
TTOO has been the topic of several research analyst reports. Zacks Investment Research cut shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine upgraded shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $6.75.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in T2 Biosystems by 0.4% during 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. Senvest Management LLC increased its position in T2 Biosystems by 15.2% in the 2nd quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock valued at $9,110,000 after acquiring an additional 373,876 shares in the last quarter. Lagoda Investment Management L.P. increased its position 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 valued at $6,343,000 after acquiring an additional 264,337 shares in the last quarter. Essex Investment Management Co. LLC increased its position 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 valued at $668,000 after acquiring an additional 143,495 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position 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 valued at $275,000 after acquiring an additional 95,920 shares in the last quarter. Institutional investors and hedge funds own 53.02% of the company’s stock.
Shares of T2 Biosystems (NASDAQ:TTOO) remained flat at $4.52 during trading on Wednesday. 214,487 shares of the company’s stock traded hands. T2 Biosystems has a 12 month low of $2.50 and a 12 month high of $7.46. The company has a 50 day moving average of $4.48 and a 200-day moving average of $3.99. The stock’s market cap is $139.05 million.
T2 Biosystems Company Profile
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).
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