What is Leerink Partnrs’ Forecast for TNDM FY2024 Earnings?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Tandem Diabetes Care in a research note issued to investors 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.

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, 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 company 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 business posted ($0.38) earnings per share. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company raised 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 report on Friday, August 2nd. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective for the company. 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. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Trading Up 3.9 %

Tandem Diabetes Care stock opened at $31.22 on Wednesday. The stock has a 50-day moving average price of $35.65 and a 200 day moving average price of $41.04. Tandem Diabetes Care has a 52 week low of $18.45 and a 52 week high of $53.69. The stock has a market cap of $2.05 billion, a PE ratio of -15.56 and a beta of 1.36. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Insiders Place Their Bets

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction 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 transaction, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth about $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $29,000. ORG Wealth Partners LLC acquired a new position in Tandem Diabetes Care during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Tandem Diabetes Care in the 2nd quarter worth approximately $31,000. Finally, Waldron Private Wealth LLC acquired a new stake in Tandem Diabetes Care in the third 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.