Tandem Diabetes Care (NASDAQ:TNDM) Announces Earnings Results

Tandem Diabetes Care (NASDAQ:TNDM) released its quarterly earnings results on Wednesday. The medical device company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08, Briefing.com reports. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 43.11%. The business had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter in the previous year, the company earned ($0.38) EPS. The business’s quarterly 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 mid-day trading on Friday, reaching $30.60. The stock had a trading volume of 3,315,425 shares, compared to its average volume of 1,604,348. The company has a market cap of $2.00 billion, a P/E ratio of -15.85 and a beta of 1.36. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average price is $38.73 and its 200 day moving average price is $41.81. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $53.69.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TNDM shares. The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird decreased their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday. They set an “outperform” rating and a $42.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.