Diabetes technology company Tandem Diabetes Care (NASDAQ:TNDM) will be reporting results this Thursday after market hours. Here’s what investors should know.
Tandem Diabetes beat analysts’ revenue expectations last quarter, reporting revenues of $290.4 million, up 15% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.
Is Tandem Diabetes a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tandem Diabetes’s revenue to grow 2.2% year on year, slowing from the 21.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tandem Diabetes has a history of exceeding Wall Street’s expectations.
Looking at Tandem Diabetes’s peers in the healthcare technology segment, only Omnicell has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 14.9%. The stock traded up 14.5% on the results.
Read our full analysis of Omnicell’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 6.5% on average over the last month. Tandem Diabetes is up 1.3% during the same time and is heading into earnings with an average analyst price target of $31.19 (compared to the current share price of $19.40).
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