Wall Street analysts predict that Tandem Diabetes Care, Inc. (NASDAQ:TNDM) will announce earnings per share of ($2.65) for the current quarter, Zacks reports. Four analysts have provided estimates for Tandem Diabetes Care’s earnings, with the highest EPS estimate coming in at ($1.51) and the lowest estimate coming in at ($3.41). Tandem Diabetes Care posted earnings of ($4.80) per share during the same quarter last year, which would indicate a positive year over year growth rate of 44.8%. The company is expected to announce its next earnings results on Wednesday, March 14th.
On average, analysts expect that Tandem Diabetes Care will report full year earnings of ($17.06) per share for the current fiscal year, with EPS estimates ranging from ($18.30) to ($14.63). For the next financial year, analysts forecast that the firm will report earnings of ($8.55) per share, with EPS estimates ranging from ($13.10) to ($4.52). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The business had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.92 million. During the same quarter in the prior year, the firm earned ($0.97) EPS. The business’s revenue was up 119.7% on a year-over-year basis.
TNDM has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a report on Friday, October 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $17.00 price objective (down previously from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.31.
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In related news, CEO Kim D. Blickenstaff bought 285,700 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was acquired at an average price of $3.50 per share, with a total value of $999,950.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 20.90% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in shares of Tandem Diabetes Care by 93.3% during the second quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock worth $465,000 after purchasing an additional 280,551 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Tandem Diabetes Care by 88.6% during the first 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 in the last quarter. Keybank National Association OH increased its stake in shares of Tandem Diabetes Care by 32.7% during the second 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after purchasing an additional 32,991 shares in the last quarter.
Tandem Diabetes Care (NASDAQ TNDM) traded down 1.96% on Monday, hitting $2.50. 437,480 shares of the company’s stock traded hands. Tandem Diabetes Care has a one year low of $2.27 and a one year high of $63.00. The stock has a 50-day moving average of $5.15 and a 200-day moving average of $7.13. The stock’s market cap is $12.56 million.
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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