FY2024 Earnings Estimate for TNDM Issued By Leerink Partnrs

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Analysts at Leerink Partnrs boosted their FY2024 EPS estimates for shares of Tandem Diabetes Care in a research report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will earn ($1.34) per share for the year, up from their prior estimate 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) last released its quarterly earnings results 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. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.38) earnings per share.

Several other brokerages have also commented on TNDM. Canaccord Genuity Group cut their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley reissued an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Finally, Robert W. Baird reduced their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $31.22 on Wednesday. The stock’s 50-day simple moving average is $35.16 and its two-hundred day simple moving average is $40.90. Tandem Diabetes Care has a twelve month low of $18.45 and a twelve month high of $53.69. The firm has a market capitalization of $2.05 billion, a P/E ratio of -16.18 and a beta of 1.36. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Insider Buying and Selling at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after acquiring an additional 30,664 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Tandem Diabetes Care by 32.5% during the 3rd 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 purchasing an additional 66,687 shares during the period. LMR Partners LLP raised its position in Tandem Diabetes Care by 235.5% during the 3rd quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock valued at $1,434,000 after purchasing an additional 23,743 shares during the last quarter. Finally, abrdn plc purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $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.