Leerink Partnrs Has Positive Outlook of TNDM FY2024 Earnings

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Equities research analysts at Leerink Partnrs boosted their FY2024 earnings estimates for Tandem Diabetes Care in a research report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now anticipates that the medical device company will post earnings per share of ($1.34) for the year, up from their previous 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.

A number of other research firms have also recently weighed in on TNDM. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. 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 on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group lowered their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

TNDM stock opened at $31.22 on Wednesday. Tandem Diabetes Care has a 52-week low of $18.45 and a 52-week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -15.56 and a beta of 1.36. The business has a fifty day moving average of $35.65 and a two-hundred day moving average of $41.04.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same quarter last year, the firm earned ($0.38) EPS. The business’s revenue was up 31.4% compared to the same quarter last year.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care during the third quarter worth about $29,000. ORG Wealth Partners LLC acquired a new position in Tandem Diabetes Care during the third quarter worth about $30,000. ORG Partners LLC purchased a new position in Tandem Diabetes Care in the second quarter valued at about $31,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at approximately $50,000.

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.