Tandem Diabetes Care, Inc. (TNDM) Expected to Post Earnings of -$3.87 Per Share
Wall Street analysts expect that Tandem Diabetes Care, Inc. (NASDAQ:TNDM) will announce ($3.87) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Tandem Diabetes Care’s earnings. The highest EPS estimate is ($3.30) and the lowest is ($4.20). Tandem Diabetes Care reported earnings per share of ($0.97) during the same quarter last year, which would indicate a negative year over year growth rate of 299%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Tandem Diabetes Care will report full-year earnings of ($17.90) per share for the current fiscal year, with EPS estimates ranging from ($18.90) to ($15.80). For the next fiscal year, analysts forecast that the firm will report earnings of ($10.53) per share, with EPS estimates ranging from ($13.10) to ($7.20). Zacks Investment Research’s EPS averages 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 ($4.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($4.80) by $0.40. The business had revenue of $21.30 million for the quarter, compared to analyst estimates of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the business posted ($6.00) EPS.
Several equities analysts recently commented on TNDM shares. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective (down previously from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tandem Diabetes Care has an average rating of “Buy” and a consensus price target of $29.31.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after buying an additional 32,991 shares in the last quarter. Keybank National Association OH grew its stake in Tandem Diabetes Care by 32.7% in the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after buying an additional 72,177 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock worth $465,000 after buying an additional 280,551 shares in the last quarter. Iguana Healthcare Management LLC grew its stake in Tandem Diabetes Care by 33.3% in the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares in the last quarter. Finally, Paulson & CO. Inc. purchased a new position in Tandem Diabetes Care in the 1st quarter worth approximately $600,000. 36.64% of the stock is owned by institutional investors and hedge funds.
Tandem Diabetes Care (TNDM) traded up 7.26% during mid-day trading on Wednesday, hitting $5.69. 123,524 shares of the company traded hands. The firm has a 50 day moving average of $6.81 and a 200 day moving average of $7.89. Tandem Diabetes Care has a one year low of $3.90 and a one year high of $78.90. The firm’s market capitalization is $28.58 million.
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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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