FY2024 Earnings Forecast for TNDM Issued By Leerink Partnrs

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Stock analysts at Leerink Partnrs lowered their FY2024 earnings estimates for Tandem Diabetes Care in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will post earnings per share of ($1.78) for the year, down from their previous forecast of ($1.71). 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 ($0.31) EPS, Q1 2025 earnings at ($0.66) EPS, Q2 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($1.23) EPS, FY2026 earnings at ($0.74) EPS, FY2027 earnings at ($0.39) EPS and FY2028 earnings at $0.01 EPS.

A number of other brokerages have also recently weighed in on TNDM. Wells Fargo & Company lifted their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays upped their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $31.10 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.38. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.11 and a beta of 1.36. The business has a 50-day moving average of $38.28 and a 200 day moving average of $41.85. Tandem Diabetes Care has a 12 month low of $14.33 and a 12 month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its 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. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter in the previous year, the company earned ($0.38) earnings per share. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TNDM. Vanguard Group Inc. lifted its position in Tandem Diabetes Care by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after acquiring an additional 30,664 shares during the last quarter. Fred Alger Management LLC increased its position in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Tandem Diabetes Care by 2.0% in the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after purchasing an additional 39,571 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Tandem Diabetes Care by 12.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after purchasing an additional 138,263 shares during the period. Finally, Chicago Capital LLC grew its stake in Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after buying an additional 182,085 shares during the last quarter.

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.