Zacks: Brokerages Anticipate Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Will Announce Quarterly Sales of $168.50 Million

Wall Street brokerages predict that Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) will post $168.50 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Tandem Diabetes Care’s earnings. The lowest sales estimate is $166.00 million and the highest is $170.80 million. Tandem Diabetes Care posted sales of $141.04 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Tandem Diabetes Care will report full-year sales of $851.24 million for the current year, with estimates ranging from $845.90 million to $855.00 million. For the next year, analysts forecast that the company will post sales of $1.02 billion, with estimates ranging from $1.00 billion to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Tandem Diabetes Care.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last issued its earnings results on Tuesday, February 22nd. The medical device company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $198.83 million. Tandem Diabetes Care had a return on equity of 4.58% and a net margin of 2.21%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share.

Several brokerages recently issued reports on TNDM. Citigroup cut their target price on shares of Tandem Diabetes Care from $163.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Wednesday, February 23rd. StockNews.com started coverage on shares of Tandem Diabetes Care in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating and set a $111.00 price objective on the stock. in a research note on Tuesday. Finally, SVB Leerink reaffirmed a “market perform” rating on shares of Tandem Diabetes Care in a research note on Monday, April 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $141.18.

Shares of NASDAQ TNDM opened at $98.43 on Friday. The firm has a market cap of $6.29 billion, a PE ratio of 427.96 and a beta of 0.52. Tandem Diabetes Care has a 12-month low of $76.19 and a 12-month high of $155.86. The company’s fifty day simple moving average is $111.72 and its 200 day simple moving average is $124.39. The company has a quick ratio of 5.63, a current ratio of 6.15 and a debt-to-equity ratio of 0.65.

In related news, Director Rebecca B. Robertson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $117.97, for a total transaction of $176,955.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David B. Berger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $117.91, for a total transaction of $117,910.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,905 shares of company stock valued at $992,325. 4.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Tandem Diabetes Care by 64.8% in the third quarter. BlackRock Inc. now owns 5,806,634 shares of the medical device company’s stock worth $693,195,000 after purchasing an additional 2,283,672 shares in the last quarter. Norges Bank purchased a new position in shares of Tandem Diabetes Care in the fourth quarter worth about $88,715,000. FMR LLC increased its stake in shares of Tandem Diabetes Care by 248.9% in the first quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after purchasing an additional 503,482 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Tandem Diabetes Care by 59.9% in the third quarter. Goldman Sachs Group Inc. now owns 982,746 shares of the medical device company’s stock worth $117,320,000 after purchasing an additional 367,990 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Tandem Diabetes Care by 139.1% in the third quarter. Bank of New York Mellon Corp now owns 580,695 shares of the medical device company’s stock worth $69,323,000 after purchasing an additional 337,838 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Tandem Diabetes Care Company Profile (Get Rating)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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