FY2024 Earnings Estimate for TNDM Issued By Leerink Partnrs

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) - Leerink Partnrs boosted their FY2024 earnings per share estimates for Tandem Diabetes Care in a report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will post earnings of ($1.34) per share for the year, up from their prior forecast of ($1.78). The consensus estimate for Tandem Diabetes Care's current full-year earnings is ($1.73) per share. Leerink Partnrs also issued estimates for Tandem Diabetes Care's Q4 2024 earnings at $0.13 EPS, Q3 2025 earnings at ($0.08) EPS, FY2026 earnings at ($0.75) EPS and FY2027 earnings at ($0.40) EPS.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million for the quarter, compared to analysts' expectations of $224.14 million. During the same period in the prior year, the company posted ($0.38) EPS. The business's revenue for the quarter was up 31.4% on a year-over-year basis.

TNDM has been the topic of a number of other research reports. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price target on the stock. Barclays lifted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They set a "buy" rating and a $57.00 target price for the company. Royal Bank of Canada began coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a "neutral" rating and a $46.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.25.

Tandem Diabetes Care Price Performance

TNDM traded up $1.18 on Wednesday, hitting $31.22. 824,545 shares of the company were exchanged, compared to its average volume of 1,600,361. Tandem Diabetes Care has a fifty-two week low of $18.45 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $2.05 billion, a P/E ratio of -15.56 and a beta of 1.36. The business's fifty day moving average is $35.65 and its 200 day moving average is $41.04.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock valued at $249,732,000 after purchasing an additional 30,664 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company's stock valued at $1,108,000 after buying an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company's stock valued at $11,540,000 after buying an additional 66,687 shares in the last quarter. LMR Partners LLP grew its stake in Tandem Diabetes Care by 235.5% during the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company's stock worth $1,434,000 after buying an additional 23,743 shares during the period. Finally, abrdn plc acquired a new stake in shares of Tandem Diabetes Care in the third quarter worth $6,126,000.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.