Piper Jaffray Equities Analysts Decrease Earnings Estimates for Tandem Diabetes Care (TNDM)

Tandem Diabetes Care (NASDAQ:TNDM) – Piper Jaffray reduced their Q2 2018 earnings per share estimates for Tandem Diabetes Care in a research note issued on Monday, May 14th. Piper Jaffray analyst J. Mckim now expects that the medical device company will post earnings of ($0.32) per share for the quarter, down from their prior estimate of ($0.31). Piper Jaffray currently has a “Overweight” rating on the stock. Piper Jaffray also issued estimates for Tandem Diabetes Care’s Q3 2018 earnings at ($0.28) EPS, Q4 2018 earnings at ($0.20) EPS, FY2018 earnings at ($0.94) EPS, Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.18) EPS, Q4 2019 earnings at ($0.07) EPS, FY2019 earnings at ($0.79) EPS and FY2020 earnings at ($0.39) EPS.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.13). The company had revenue of $40.00 million during the quarter, compared to analyst estimates of $38.41 million. Tandem Diabetes Care’s revenue was up 61.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) EPS.

Other equities research analysts have also issued reports about the company. ValuEngine upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th. Zacks Investment Research lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Cowen upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Finally, Robert W. Baird upgraded Tandem Diabetes Care from a “neutral” rating to an “outperform” rating in a research report on Friday, March 23rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $8.32.

Tandem Diabetes Care opened at $11.69 on Wednesday, according to Marketbeat. The company has a market cap of $595.31 million, a P/E ratio of -0.91 and a beta of -0.40. Tandem Diabetes Care has a one year low of $11.40 and a one year high of $11.92. The company has a debt-to-equity ratio of 6.45, a quick ratio of 2.01 and a current ratio of 2.62.

In other news, Director Dick Allen acquired 25,539 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $3.88 per share, for a total transaction of $99,091.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at $4,225,000. First Light Asset Management LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at $23,482,000. Millrace Asset Group Inc. bought a new position in Tandem Diabetes Care in the 1st quarter valued at $2,480,000. DAFNA Capital Management LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at $298,000. Finally, venBio Select Advisor LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at $3,888,000. Hedge funds and other institutional investors own 14.75% of the company’s stock.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical device company, which designs, develops and commercializes products for people with insulin dependent diabetes. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.

Earnings History and Estimates for Tandem Diabetes Care (NASDAQ:TNDM)

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