Tandem Diabetes Care (NASDAQ:TNDM) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Tandem Diabetes Care (NASDAQ:TNDM) released its quarterly earnings results on Wednesday. The medical device company reported ($0.35) EPS 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 business had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. The company’s revenue was up 31.4% compared to the same quarter last year. Tandem Diabetes Care updated its FY 2024 guidance to EPS.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM traded down $2.72 during trading on Friday, reaching $30.60. The company had a trading volume of 3,315,425 shares, compared to its average volume of 1,604,348. The business’s 50 day moving average price is $38.73 and its 200-day moving average price is $41.81. The stock has a market cap of $2.00 billion, a PE 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 debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05.

Analyst Ratings Changes

A number of analysts recently issued reports on TNDM shares. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Barclays increased their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group cut their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Finally, UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Company Profile

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.