Analysts Expect T2 Biosystems Inc (TTOO) Will Post Quarterly Sales of $1.15 Million
Wall Street analysts expect that T2 Biosystems Inc (NASDAQ:TTOO) will report sales of $1.15 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for T2 Biosystems’ earnings, with estimates ranging from $1.10 million to $1.20 million. T2 Biosystems posted sales of $910,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 15th.
According to Zacks, analysts expect that T2 Biosystems will report full-year sales of $1.15 million for the current fiscal year, with estimates ranging from $4.10 million to $4.21 million. For the next fiscal year, analysts expect that the company will report sales of $12.03 million per share, with estimates ranging from $7.50 million to $20.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. T2 Biosystems had a negative return on equity of 244.82% and a negative net margin of 1,497.70%. The firm had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.10 million. The company’s revenue was up 2.8% compared to the same quarter last year.
Shares of T2 Biosystems (NASDAQ:TTOO) opened at $4.15 on Monday. T2 Biosystems has a one year low of $2.50 and a one year high of $6.99. The company has a debt-to-equity ratio of 2.25, a quick ratio of 5.28 and a current ratio of 5.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTOO. LMR Partners LLP acquired a new position in T2 Biosystems in the 2nd quarter worth about $180,000. Susquehanna International Group LLP raised its holdings in T2 Biosystems by 931.3% in the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 95,920 shares during the period. Gagnon Securities LLC acquired a new position in T2 Biosystems in the 3rd quarter worth about $396,000. Point72 Asset Management L.P. acquired a new position in T2 Biosystems in the 3rd quarter worth about $630,000. Finally, Essex Investment Management Co. LLC raised its holdings in T2 Biosystems by 239.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock worth $2,966,000 after purchasing an additional 498,004 shares during the period. 59.77% of the stock is owned by institutional investors.
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T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
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