Diabetes technology company Tandem Diabetes Care (NASDAQ:TNDM) will be reporting results tomorrow after the bell. Here’s what you need to know.
Tandem Diabetes beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $282.6 million, up 43.6% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS and sales volume estimates.
Is Tandem Diabetes a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tandem Diabetes’s revenue to grow 14.5% year on year to $219.4 million, improving from the 11.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.61 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tandem Diabetes has missed Wall Street’s revenue estimates twice over the last two years.
With Tandem Diabetes being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for healthcare technology stocks. However, the whole sector has faced a sell-off over the last month with stocks in Tandem Diabetes’s peer group down 5.2% on average. Tandem Diabetes is down 5.7% during the same time and is heading into earnings with an average analyst price target of $38.24 (compared to the current share price of $18.06).
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