Analysts expect that Tandem Diabetes Care Inc (NASDAQ:TNDM) will report sales of $36.10 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Tandem Diabetes Care’s earnings. The lowest sales estimate is $32.70 million and the highest is $39.49 million. Tandem Diabetes Care posted sales of $28.91 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, March 1st.
On average, analysts expect that Tandem Diabetes Care will report full year sales of $36.10 million for the current financial year, with estimates ranging from $100.00 million to $101.99 million. For the next year, analysts forecast that the company will post sales of $135.96 million per share, with estimates ranging from $134.71 million to $139.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Tandem Diabetes Care.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Saturday, January 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $3.00 target price on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.29.
In other Tandem Diabetes Care news, Director Christopher J. Twomey purchased 75,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $2.00 per share, with a total value of $150,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kim D. Blickenstaff purchased 750,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. The disclosure for this purchase can be found here. Company insiders own 20.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after acquiring an additional 78,748 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after acquiring an additional 88,709 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares in the last quarter.
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Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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