Q3 EPS Estimate for Tandem Diabetes Care Raised by Analyst

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) - Equities researchers at Leerink Partnrs lifted their Q3 2024 EPS estimates for Tandem Diabetes Care in a report released on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now anticipates that the medical device company will post earnings of ($0.44) per share for the quarter, up from their prior estimate of ($0.45). The consensus estimate for Tandem Diabetes Care's current full-year earnings is ($1.76) per share. Leerink Partnrs also issued estimates for Tandem Diabetes Care's FY2024 earnings at ($1.71) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.02) EPS, FY2025 earnings at ($0.81) EPS and FY2026 earnings at ($0.33) EPS.

Several other analysts also recently weighed in on the company. Piper Sandler restated an "overweight" rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Morgan Stanley restated an "equal weight" rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 23rd. UBS Group upgraded Tandem Diabetes Care to a "hold" rating in a report on Friday, August 2nd. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a "neutral" rating and a $46.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They issued a "buy" rating and a $57.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.13.

Tandem Diabetes Care Trading Up 1.5 %

Shares of TNDM traded up $0.53 during trading hours on Friday, reaching $35.34. 1,245,435 shares of the company traded hands, compared to its average volume of 1,603,205. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -16.66 and a beta of 1.33. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $53.69. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The stock's fifty day moving average price is $42.02 and its 200 day moving average price is $41.84.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.07. The firm had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) earnings per share.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC raised its position in Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company's stock worth $90,512,000 after buying an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC raised its position in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Victory Capital Management Inc. raised its position in Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company's stock worth $16,252,000 after buying an additional 389,632 shares during the last quarter. Kingdon Capital Management L.L.C. raised its position in Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company's stock worth $17,460,000 after buying an additional 298,880 shares during the last quarter. Finally, First Light Asset Management LLC raised its position in Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company's stock worth $28,545,000 after buying an additional 233,405 shares during the last quarter.

Tandem Diabetes Care Company Profile

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.