Leerink Partnrs Has Negative Outlook of TNDM FY2024 Earnings

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) - Leerink Partnrs lowered their FY2024 earnings per share estimates for shares of Tandem Diabetes Care in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will post earnings per share of ($1.78) for the year, down from their previous estimate of ($1.71). 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 ($0.31) EPS, Q1 2025 earnings at ($0.66) EPS, Q2 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($1.23) EPS, FY2026 earnings at ($0.74) EPS, FY2027 earnings at ($0.39) EPS and FY2028 earnings at $0.01 EPS.

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

TNDM has been the subject of a number of other reports. UBS Group raised Tandem Diabetes Care to a "hold" rating in a research report on Friday, August 2nd. Canaccord Genuity Group decreased their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday. Barclays lifted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price target for the company. Finally, Royal Bank of Canada began coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price target for the company. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.25.

Tandem Diabetes Care Trading Up 2.5 %

Shares of TNDM stock traded up $0.77 during mid-day trading on Monday, hitting $31.37. The company's stock had a trading volume of 1,938,738 shares, compared to its average volume of 1,605,891. Tandem Diabetes Care has a 52 week low of $14.33 and a 52 week high of $53.69. The company has a market cap of $2.06 billion, a PE ratio of -16.25 and a beta of 1.36. The company's fifty day simple moving average is $38.73 and its 200-day simple moving average is $41.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.38 and a current ratio of 2.90.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently modified their holdings of TNDM. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new stake in Tandem Diabetes Care during the 3rd quarter valued at $30,000. ORG Partners LLC bought a new stake in Tandem Diabetes Care during the 2nd quarter valued at $31,000. Headlands Technologies LLC bought a new position in shares of Tandem Diabetes Care in the first quarter worth $35,000. Finally, Waldron Private Wealth LLC bought a new position in shares of Tandem Diabetes Care in the third quarter worth $50,000.

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.