Equities analysts predict that T2 Biosystems, Inc. (NASDAQ:TTOO) will post sales of $1.09 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for T2 Biosystems’ earnings. The highest sales estimate is $1.20 million and the lowest is $980,000.00. T2 Biosystems posted sales of $1.08 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, November 2nd.

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 year, analysts anticipate that the company will post sales of $16.89 million per share, with estimates ranging from $7.98 million to $22.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for T2 Biosystems.

T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.01). The company had revenue of $0.96 million for the quarter, compared to the consensus estimate of $0.79 million. T2 Biosystems had a negative net margin of 1,473.71% and a negative return on equity of 178.83%.

TTOO has been the subject of a number of analyst reports. ValuEngine upgraded T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Zacks Investment Research downgraded T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, HC Wainwright assumed coverage on T2 Biosystems in a research note on Wednesday, October 18th. They set a “buy” rating and a $8.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.00.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in T2 Biosystems by 0.4% during 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 in the last quarter. Essex Investment Management Co. LLC raised 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 purchasing an additional 143,495 shares in the last quarter. Senvest Management LLC raised 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 purchasing an additional 373,876 shares in the last quarter. Lagoda Investment Management L.P. raised 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 purchasing an additional 264,337 shares in the last quarter. Finally, Susquehanna International Group LLP raised 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 purchasing an additional 95,920 shares in the last quarter. 53.02% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This news story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/10/23/t2-biosystems-inc-ttoo-expected-to-announce-quarterly-sales-of-1-09-million.html.

Shares of T2 Biosystems (NASDAQ TTOO) traded down 1.48% during midday trading on Monday, hitting $3.99. 90,419 shares of the stock were exchanged. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $7.18. The firm’s 50-day moving average is $4.56 and its 200 day moving average is $3.90. The firm’s market cap is $122.75 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).

Get a free copy of the Zacks research report on T2 Biosystems (TTOO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for T2 Biosystems (NASDAQ:TTOO)

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.