$50.32 Million in Sales Expected for Tandem Diabetes Care Inc (TNDM) This Quarter

Equities analysts expect Tandem Diabetes Care Inc (NASDAQ:TNDM) to report $50.32 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Tandem Diabetes Care’s earnings, with estimates ranging from $47.49 million to $53.57 million. Tandem Diabetes Care posted sales of $27.28 million during the same quarter last year, which suggests a positive year over year growth rate of 84.5%. The firm is scheduled to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Tandem Diabetes Care will report full-year sales of $264.27 million for the current fiscal year, with estimates ranging from $262.49 million to $266.51 million. For the next financial year, analysts expect that the business will post sales of $334.99 million, with estimates ranging from $322.99 million to $352.60 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Tandem Diabetes Care.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Tuesday, February 26th. The medical device company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.22. Tandem Diabetes Care had a negative return on equity of 67.92% and a negative net margin of 66.68%. The business had revenue of $76.20 million during the quarter, compared to the consensus estimate of $56.34 million. During the same period in the prior year, the company earned ($1.23) EPS. Tandem Diabetes Care’s revenue for the quarter was up 89.1% on a year-over-year basis.

Several analysts recently weighed in on the company. Bank of America upped their price objective on Tandem Diabetes Care from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. ValuEngine downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 28th. Oppenheimer upped their price objective on Tandem Diabetes Care from $57.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Cowen upped their price objective on Tandem Diabetes Care from $40.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Finally, Craig Hallum upped their price objective on Tandem Diabetes Care from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $59.43.

In other Tandem Diabetes Care news, EVP John F. Sheridan sold 20,788 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $35.76, for a total value of $743,378.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian B. Hansen sold 10,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.00, for a total value of $720,000.00. Following the completion of the transaction, the executive vice president now owns 11,381 shares of the company’s stock, valued at $819,432. The disclosure for this sale can be found here. Insiders sold 382,088 shares of company stock valued at $23,154,978 over the last quarter. Corporate insiders own 9.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TNDM. PNC Financial Services Group Inc. bought a new position in shares of Tandem Diabetes Care during the fourth quarter worth about $44,000. IFP Advisors Inc raised its position in shares of Tandem Diabetes Care by 78.4% during the fourth quarter. IFP Advisors Inc now owns 1,757 shares of the medical device company’s stock worth $66,000 after acquiring an additional 772 shares during the last quarter. Advisor Group Inc. raised its position in shares of Tandem Diabetes Care by 38.2% during the fourth quarter. Advisor Group Inc. now owns 2,351 shares of the medical device company’s stock worth $89,000 after acquiring an additional 650 shares during the last quarter. US Bancorp DE raised its position in shares of Tandem Diabetes Care by 397.8% during the third quarter. US Bancorp DE now owns 2,489 shares of the medical device company’s stock worth $107,000 after acquiring an additional 1,989 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Tandem Diabetes Care during the third quarter worth about $109,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.

Shares of TNDM stock traded down $0.26 on Monday, hitting $63.50. 1,287,457 shares of the company’s stock were exchanged, compared to its average volume of 2,378,481. Tandem Diabetes Care has a 12 month low of $4.67 and a 12 month high of $74.81. The company has a market cap of $3.68 billion, a P/E ratio of -24.90 and a beta of 0.69.

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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