Wall Street brokerages expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to post $113.09 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Tandem Diabetes Care's earnings, with the highest sales estimate coming in at $119.18 million and the lowest estimate coming in at $107.40 million. Tandem Diabetes Care reported sales of $94.66 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.5%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, November 5th.
According to Zacks, analysts expect that Tandem Diabetes Care will report full-year sales of $460.69 million for the current year, with estimates ranging from $457.37 million to $471.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $549.53 million, with estimates ranging from $525.20 million to $574.80 million. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Tandem Diabetes Care.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.21). The company had revenue of $109.24 million for the quarter, compared to analyst estimates of $86.51 million. Tandem Diabetes Care had a negative return on equity of 12.88% and a negative net margin of 10.29%.
TNDM has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, August 20th. They set an "overweight" rating and a $120.00 price target for the company. BidaskClub raised shares of Tandem Diabetes Care from a "hold" rating to a "buy" rating in a research report on Thursday, September 24th. Lake Street Capital raised their price objective on shares of Tandem Diabetes Care from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Bank of America reaffirmed a "hold" rating and set a $100.00 price objective on shares of Tandem Diabetes Care in a research report on Tuesday, June 30th. Finally, Citigroup raised shares of Tandem Diabetes Care from a "neutral" rating to a "buy" rating and raised their price objective for the company from $94.00 to $120.00 in a research report on Monday, July 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and an average target price of $114.13.
TNDM stock opened at $118.74 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.18 and a current ratio of 4.72. The stock has a market cap of $7.23 billion, a P/E ratio of -158.32 and a beta of 0.50. The firm has a 50 day simple moving average of $110.91 and a 200 day simple moving average of $93.68. Tandem Diabetes Care has a 52 week low of $43.69 and a 52 week high of $123.74.
In other news, CEO John F. Sheridan sold 15,000 shares of the firm's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $121.31, for a total value of $1,819,650.00. Following the sale, the chief executive officer now owns 18,756 shares in the company, valued at $2,275,290.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David B. Berger sold 5,000 shares of the firm's stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $119.25, for a total transaction of $596,250.00. Following the completion of the sale, the executive vice president now owns 9,566 shares in the company, valued at approximately $1,140,745.50. The disclosure for this sale can be found here. In the last three months, insiders sold 469,599 shares of company stock worth $51,004,143. Insiders own 6.00% of the company's stock.
Several institutional investors have recently made changes to their positions in the company. Copper Rock Capital Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $263,717,000. FMR LLC grew its stake in shares of Tandem Diabetes Care by 8.2% in the second quarter. FMR LLC now owns 6,019,963 shares of the medical device company's stock worth $595,495,000 after acquiring an additional 454,490 shares during the last quarter. Invesco Ltd. grew its stake in shares of Tandem Diabetes Care by 110.6% in the first quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company's stock worth $107,059,000 after acquiring an additional 873,780 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Tandem Diabetes Care by 12.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,422,057 shares of the medical device company's stock worth $140,670,000 after acquiring an additional 155,311 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Tandem Diabetes Care by 0.9% in the first quarter. Geode Capital Management LLC now owns 887,660 shares of the medical device company's stock worth $57,120,000 after acquiring an additional 8,173 shares during the last quarter.
Tandem Diabetes Care Company Profile
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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