FY2024 Earnings Forecast for TNDM Issued By Leerink Partnrs

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share (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 post earnings of ($1.34) per share for the year, up from their previous forecast 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.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 target price on the stock. Finally, Robert W. Baird cut 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, November 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $30.04 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company’s fifty day moving average price is $35.91 and its 200 day moving average price is $41.14. Tandem Diabetes Care has a 1 year low of $18.45 and a 1 year high of $53.69.

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, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share.

Insider Activity at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC lifted its stake in shares of Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after purchasing an additional 677,036 shares during the last quarter. Victory Capital Management Inc. lifted its position in Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after buying an additional 389,632 shares during the last quarter. Bellevue Group AG boosted its stake in Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Tandem Diabetes Care during the third quarter valued at about $10,208,000. Finally, First Light Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 49.1% in the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after acquiring an additional 233,405 shares during the period.

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.