T2 Biosystems Inc (TTOO) Expected to Post Quarterly Sales of $1.15 Million
Analysts predict that T2 Biosystems Inc (NASDAQ:TTOO) will report sales of $1.15 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for T2 Biosystems’ earnings, with the lowest sales estimate coming in at $1.10 million and the highest estimate coming in at $1.20 million. T2 Biosystems reported sales of $910,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 26.4%. The firm is scheduled to issue its next earnings results on Thursday, February 15th.
On average, analysts expect that T2 Biosystems will report full-year sales of $1.15 million for the current year, with estimates ranging from $4.10 million to $4.21 million. For the next year, analysts forecast that the business will post sales of $12.03 million per share, with estimates ranging from $7.50 million to $20.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. T2 Biosystems had a negative net margin of 1,497.70% and a negative return on equity of 244.82%. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.10 million. The company’s revenue was up 2.8% compared to the same quarter last year.
T2 Biosystems (NASDAQ TTOO) traded up $0.21 during mid-day trading on Thursday, hitting $4.64. 542,700 shares of the company’s stock were exchanged, compared to its average volume of 541,950. T2 Biosystems has a 12-month low of $2.50 and a 12-month high of $6.99. The stock has a market capitalization of $158.71, a PE ratio of -2.44 and a beta of 1.48. The company has a debt-to-equity ratio of 2.25, a current ratio of 5.40 and a quick ratio of 5.28.
A number of large investors have recently bought and sold shares of TTOO. Point72 Asset Management L.P. bought a new position in shares of T2 Biosystems in the third quarter worth approximately $630,000. Gagnon Securities LLC bought a new position in shares of T2 Biosystems in the third quarter worth approximately $396,000. Lagoda Investment Management L.P. lifted its stake in shares of T2 Biosystems by 61.4% in the third quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock worth $13,392,000 after buying an additional 1,212,618 shares in the last quarter. Senvest Management LLC lifted its stake in shares of T2 Biosystems by 17.6% in the third quarter. Senvest Management LLC now owns 3,337,946 shares of the medical equipment provider’s stock worth $14,019,000 after buying an additional 500,000 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in shares of T2 Biosystems by 239.2% in the third quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock worth $2,966,000 after buying an additional 498,004 shares in the last quarter. 59.73% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “T2 Biosystems Inc (TTOO) Expected to Post Quarterly Sales of $1.15 Million” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/04/t2-biosystems-inc-ttoo-expected-to-post-quarterly-sales-of-1-15-million.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.