Tandem Diabetes Care (NASDAQ:TNDM) Releases Earnings Results, Beats Expectations By $0.07 EPS

Tandem Diabetes Care (NASDAQ:TNDM) issued its earnings results on Thursday. The medical device company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07, Briefing.com reports. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The firm had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Tandem Diabetes Care updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Tandem Diabetes Care Trading Up 18.3 %

Tandem Diabetes Care stock traded up $6.46 during mid-day trading on Friday, hitting $41.67. 4,629,272 shares of the company’s stock were exchanged, compared to its average volume of 1,731,964. The firm has a market capitalization of $2.69 billion, a P/E ratio of -19.22 and a beta of 1.28. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43. The company’s 50 day simple moving average is $44.38 and its 200-day simple moving average is $36.10.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research analyst reports. Barclays boosted their price objective on Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Redburn Atlantic initiated coverage on Tandem Diabetes Care in a research report on Thursday, May 30th. They set a “buy” rating and a $60.00 price target on the stock. Stifel Nicolaus upped their price objective on Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Robert W. Baird upped their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus price target of $52.75.

Insider Buying and Selling

In related news, Director Dick Allen sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total transaction of $258,400.00. Following the sale, the director now owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

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.