-$0.44 Earnings Per Share Expected for Tandem Diabetes Care Inc (TNDM) This Quarter
Wall Street analysts forecast that Tandem Diabetes Care Inc (NASDAQ:TNDM) will post earnings of ($0.44) per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Tandem Diabetes Care’s earnings. The lowest EPS estimate is ($0.61) and the highest is ($0.38). Tandem Diabetes Care posted earnings of ($0.97) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 54.6%. The business is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full-year earnings of ($1.82) per share for the current year, with EPS estimates ranging from ($2.40) to ($1.46). For the next financial year, analysts expect that the business will report earnings of ($1.21) per share, with EPS estimates ranging from ($2.18) to ($0.76). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.04. The business had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.74 million. During the same quarter in the previous year, the company posted ($0.60) EPS. The company’s quarterly revenue was down 7.4% on a year-over-year basis.
TNDM has been the subject of a number of research reports. B. Riley restated a “neutral” rating and set a $1.50 target price on shares of Tandem Diabetes Care in a research report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.71.
Shares of Tandem Diabetes Care (NASDAQ:TNDM) traded down 2.9934% during midday trading on Wednesday, reaching $0.7324. The company’s stock had a trading volume of 4,430,632 shares. The firm’s market capitalization is $36.79 million. Tandem Diabetes Care has a 12-month low of $0.39 and a 12-month high of $8.81. The stock has a 50-day moving average of $0.61 and a 200 day moving average of $1.22.
Several hedge funds and other institutional investors have recently modified their holdings of TNDM. Wrapmanager Inc. increased its position in shares of 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 period. Iguana Healthcare Management LLC increased its position in shares of 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 period. OLD National Bancorp IN increased its position in shares of 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 period. Monashee Investment Management LLC purchased a new position in shares of Tandem Diabetes Care during the first quarter worth $180,000. Finally, Group One Trading L.P. purchased a new position in shares of Tandem Diabetes Care during the first quarter worth $185,000. Institutional investors and hedge funds own 45.22% of the company’s stock.
Tandem Diabetes Care Company Profile
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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