Tandem Diabetes Care (NASDAQ:TNDM) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Tandem Diabetes Care (NASDAQ:TNDM) announced its quarterly earnings data on Wednesday. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08, Briefing.com reports. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 43.11%. The company’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the firm earned ($0.38) EPS. Tandem Diabetes Care updated its FY 2024 guidance to EPS.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock traded down $2.72 during trading hours on Friday, reaching $30.60. The company’s stock had a trading volume of 3,315,425 shares, compared to its average volume of 1,604,348. The firm has a 50 day moving average price of $38.73 and a 200-day moving average price of $41.81. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The stock has a market cap of $2.00 billion, a P/E ratio of -15.85 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley restated 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. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. Robert W. Baird decreased 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 research report on Thursday. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research report on Wednesday. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday. 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, the company 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.