Wall Street brokerages expect Tandem Diabetes Care, Inc. (NASDAQ:TNDM) to post $26.16 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Tandem Diabetes Care’s earnings, with the lowest sales estimate coming in at $24.48 million and the highest estimate coming in at $27.22 million. Tandem Diabetes Care reported sales of $12.29 million during the same quarter last year, which indicates a positive year over year growth rate of 112.9%. The firm is expected to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full year sales of $26.16 million for the current fiscal year, with estimates ranging from $99.70 million to $103.36 million. For the next year, analysts expect that the company will post sales of $145.29 million per share, with estimates ranging from $138.59 million to $154.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The company had revenue of $21.30 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned ($0.60) earnings per share.
A number of research analysts recently weighed in on TNDM shares. Zacks Investment Research lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. B. Riley reaffirmed a “neutral” rating and set a $1.50 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.71.
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Tandem Diabetes Care (NASDAQ:TNDM) opened at 0.6222 on Friday. Tandem Diabetes Care has a 12 month low of $0.39 and a 12 month high of $8.81. The company’s 50 day moving average price is $0.61 and its 200 day moving average price is $1.21. The stock’s market cap is $31.25 million.
Several hedge funds have recently bought and sold shares of the company. Wrapmanager Inc. raised its stake in Tandem Diabetes Care by 59.2% in the first quarter. Wrapmanager Inc. now owns 96,405 shares of the medical device company’s stock worth $116,000 after buying an additional 35,866 shares during the last quarter. Iguana Healthcare Management LLC raised its stake in Tandem Diabetes Care by 33.3% in the first 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 during the last quarter. OLD National Bancorp IN raised its stake in Tandem Diabetes Care by 31.0% in the first quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock worth $144,000 after buying an additional 28,320 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in Tandem Diabetes Care during the first quarter worth approximately $180,000. Finally, Group One Trading L.P. acquired a new stake in Tandem Diabetes Care during the first quarter worth approximately $185,000. 45.22% of the stock is owned by institutional investors and hedge funds.
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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