Zacks: Brokerages Anticipate Tandem Diabetes Care Inc (NASDAQ:TNDM) Will Post Quarterly Sales of $108.98 Million

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Brokerages forecast that Tandem Diabetes Care Inc (NASDAQ:TNDM) will report sales of $108.98 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Tandem Diabetes Care’s earnings. The lowest sales estimate is $106.70 million and the highest is $111.00 million. Tandem Diabetes Care posted sales of $76.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 43%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 25th.

On average, analysts expect that Tandem Diabetes Care will report full year sales of $362.93 million for the current fiscal year, with estimates ranging from $360.70 million to $365.00 million. For the next fiscal year, analysts forecast that the business will post sales of $441.59 million, with estimates ranging from $417.70 million to $450.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Tandem Diabetes Care.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Monday, November 4th. The medical device company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The business had revenue of $94.66 million during the quarter, compared to analysts’ expectations of $88.46 million. Tandem Diabetes Care had a negative return on equity of 9.44% and a negative net margin of 7.19%.

A number of research firms have recently weighed in on TNDM. Guggenheim began coverage on Tandem Diabetes Care in a report on Thursday, October 17th. They set a “buy” rating and a $76.00 target price for the company. BidaskClub cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine downgraded shares of Tandem Diabetes Care from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, UBS Group raised shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $75.31.

In other Tandem Diabetes Care news, CEO John F. Sheridan sold 462 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $70.00, for a total value of $32,340.00. Following the transaction, the chief executive officer now directly owns 2,963 shares of the company’s stock, valued at approximately $207,410. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Leigh Vosseller sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $70.35, for a total transaction of $703,500.00. Following the completion of the transaction, the chief financial officer now directly owns 13,265 shares in the company, valued at $933,192.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,462 shares of company stock valued at $2,320,090. 6.90% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. FMR LLC raised its position in Tandem Diabetes Care by 248.9% during the first quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock valued at $44,818,000 after purchasing an additional 503,482 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Tandem Diabetes Care by 53.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock worth $30,000 after buying an additional 160 shares during the last quarter. James Investment Research Inc. lifted its position in shares of Tandem Diabetes Care by 15.9% during the 2nd quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock worth $85,000 after buying an additional 180 shares during the last quarter. Strs Ohio boosted its stake in Tandem Diabetes Care by 200.0% in the second quarter. Strs Ohio now owns 23,100 shares of the medical device company’s stock valued at $1,490,000 after buying an additional 15,400 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Tandem Diabetes Care in the second quarter valued at about $200,000. 83.16% of the stock is owned by institutional investors.

NASDAQ TNDM traded down $0.66 on Monday, reaching $61.22. The stock had a trading volume of 1,334,705 shares, compared to its average volume of 1,613,190. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.46 and a quick ratio of 2.05. The firm has a fifty day moving average of $64.10 and a two-hundred day moving average of $64.07. Tandem Diabetes Care has a 1-year low of $29.43 and a 1-year high of $74.81. The company has a market cap of $3.62 billion, a P/E ratio of -24.01 and a beta of 0.23.

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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