Diabetes technology company Tandem Diabetes Care (NASDAQ:TNDM) will be announcing earnings results this Thursday after market close. Here’s what you need to know.
Tandem Diabetes beat analysts’ revenue expectations last quarter, reporting revenues of $247.2 million, up 5.5% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.
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 5.4% year on year, slowing from the 8.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 7.4%. The stock was down 14.6% on the results.
Read our full analysis of Omnicell’s earnings results here.Investors in the healthcare technology segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Tandem Diabetes is up 30.7% during the same time and is heading into earnings with an average analyst price target of $28.53 (compared to the current share price of $20.16).
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