$26.07 Million in Sales Expected for Tandem Diabetes Care, Inc. (TNDM) This Quarter
Analysts expect Tandem Diabetes Care, Inc. (NASDAQ:TNDM) to post sales of $26.07 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Tandem Diabetes Care’s earnings, with the highest sales estimate coming in at $27.22 million and the lowest estimate coming in at $25.07 million. Tandem Diabetes Care posted sales of $12.29 million during the same quarter last year, which suggests a positive year over year growth rate of 112.1%. The company is expected to announce its next earnings results on Tuesday, November 7th.
On average, analysts expect that Tandem Diabetes Care will report full-year sales of $26.07 million for the current year, with estimates ranging from $99.70 million to $103.36 million. For the next fiscal year, analysts expect that the firm will post sales of $144.01 million per share, with estimates ranging from $138.59 million to $154.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, July 27th. The medical device company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.80) by $0.40. The company had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.74 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. Tandem Diabetes Care’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the company posted ($6.00) earnings per share.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded 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 report on Thursday, September 28th. Wedbush restated an “outperform” rating and issued a $17.00 price objective (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a report on Friday, October 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.31.
A number of large investors have recently bought and sold shares of TNDM. Russell Investments Group Ltd. bought a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $360,000. Bank of America Corp DE grew its position in Tandem Diabetes Care by 88.6% in the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after purchasing an additional 404,452 shares during the period. Paulson & CO. Inc. bought a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $600,000. Iguana Healthcare Management LLC grew its position 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 purchasing an additional 25,000 shares during the period. Finally, Keybank National Association OH grew its position 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 purchasing an additional 72,177 shares during the period. 36.64% of the stock is owned by institutional investors and hedge funds.
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).
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