Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) issued its quarterly earnings data on Wednesday. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08, Briefing.com reports. Tandem Diabetes Care had a negative return on equity of 43.11% and a negative net margin of 14.84%. The company had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the business posted ($0.38) earnings per share. The firm's revenue for the quarter was up 31.4% compared to the same quarter last year. Tandem Diabetes Care updated its FY 2024 guidance to EPS.
Tandem Diabetes Care Stock Down 8.2 %
NASDAQ:TNDM traded down $2.72 during trading hours on Friday, hitting $30.60. The company's stock had a trading volume of 3,315,425 shares, compared to its average volume of 1,604,348. The stock has a fifty day moving average of $38.73 and a 200-day moving average of $41.81. The stock has a market capitalization of $2.00 billion, a P/E ratio of -15.85 and a beta of 1.36. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week 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.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price objective for the company. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday. They issued an "outperform" rating and a $42.00 price target on the stock. 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. Piper Sandler reiterated an "overweight" rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a "buy" rating and a $57.00 price target on the stock. Five 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, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and an average price target of $54.25.
Check Out Our Latest Report on TNDM
About Tandem Diabetes Care
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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.
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