Tandem Diabetes Care Inc (TNDM) Expected to Post Quarterly Sales of $56.23 Million

Wall Street brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to announce sales of $56.23 million for the current quarter, according to Zacks. Four analysts have made estimates for Tandem Diabetes Care’s earnings. The highest sales estimate is $57.34 million and the lowest is $54.70 million. Tandem Diabetes Care posted sales of $40.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 39.6%. The firm is expected to issue its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Tandem Diabetes Care will report full year sales of $163.89 million for the current financial year, with estimates ranging from $162.30 million to $165.01 million. For the next year, analysts expect that the business will report sales of $223.11 million, with estimates ranging from $211.10 million to $239.99 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Tandem Diabetes Care.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 1st. The medical device company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative return on equity of 204.32% and a negative net margin of 93.07%. The company had revenue of $46.30 million for the quarter, compared to analyst estimates of $42.71 million. During the same quarter in the prior year, the firm earned ($3.09) earnings per share. The company’s revenue for the quarter was up 71.5% on a year-over-year basis.

Several research analysts have weighed in on TNDM shares. Lake Street Capital boosted their price target on Tandem Diabetes Care from $35.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 20th. Zacks Investment Research downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. Robert W. Baird downgraded Tandem Diabetes Care from an “outperform” rating to a “neutral” rating in a report on Friday, September 14th. BidaskClub upgraded Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Finally, Oppenheimer set a $57.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a report on Friday, November 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.75.

In other news, CEO Kim D. Blickenstaff sold 198,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $37.01, for a total transaction of $7,327,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard P. Valencia acquired 1,300 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $37.75 per share, with a total value of $49,075.00. The disclosure for this purchase can be found here. Insiders own 9.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Tandem Diabetes Care by 33.2% during the 3rd quarter. BlackRock Inc. now owns 3,909,306 shares of the medical device company’s stock worth $167,475,000 after buying an additional 973,769 shares during the last quarter. Vanguard Group Inc. boosted its position in Tandem Diabetes Care by 98.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,792,662 shares of the medical device company’s stock worth $162,478,000 after purchasing an additional 1,884,560 shares during the period. Federated Investors Inc. PA boosted its position in Tandem Diabetes Care by 18.1% during the 2nd quarter. Federated Investors Inc. PA now owns 2,656,500 shares of the medical device company’s stock worth $58,496,000 after purchasing an additional 406,224 shares during the period. Orbimed Advisors LLC purchased a new stake in Tandem Diabetes Care during the 2nd quarter worth $37,192,000. Finally, Point72 Asset Management L.P. purchased a new stake in Tandem Diabetes Care during the 2nd quarter worth $27,296,000. Institutional investors and hedge funds own 71.60% of the company’s stock.

TNDM traded up $1.44 during trading on Friday, hitting $38.26. The company’s stock had a trading volume of 62,253 shares, compared to its average volume of 1,464,590. The company has a market capitalization of $2.11 billion, a PE ratio of -2.97 and a beta of 0.52. Tandem Diabetes Care has a twelve month low of $2.14 and a twelve month high of $52.55.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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