Tandem Diabetes Care Inc (TNDM) this afternoon missed fourth-quarter 2023 earnings estimates.
Tandem Diabetes Care’s earnings came in at an EPS loss of $0.27 per share, 8% below the expected EPS loss of $0.25 per share. The company’s loss per share has widened 2,600% since reporting a loss of $0.01 per share a year ago. Please note that reported earnings are on an adjusted basis and may not be comparable to previous reports or analyst expectations.
Analyst consensus estimates for Tandem Diabetes Care’s revenue were $203.4 million. Fourth-quarter revenue was $6.6 million, or 3%, below his $196.8 million estimate. The company achieved -11% year-on-year growth, compared to the year-ago period’s sales of $220.5 million. The low growth in revenue compared to sales indicates that Tandem Diabetes Care has not been able to improve its profit margins.
After the news, the stock price rose 12.05% to $25.27.
The company’s increase in sales relative to profit shows that the company is unable to reduce costs and profit margins are declining.
The average recommendation from Wall Street analysts was a Buy, which may be revised based on this new data.
With 5 days of trading leading up to the report, Tandem Diabetes Care investor observer.
Tandem Diabetes Care’s performance over the past few months has been slightly below average. Prior to this report, Tandem Diabetes Care received a long-term technical rank. investor observer It is ranked at the bottom of the 35th place in terms of stock price. The company had a 52-week low of $13.82 on November 10, 2023 and a 52-week high of $44.85 on March 6, 2023.
Tandem Diabetes Care Inc is a medical device company that develops products for people with insulin-dependent diabetes. The company has three major insulin pump products. The t:slim insulin delivery system easily fits into the user’s pocket. The t:flex insulin delivery system is used by customers who require more insulin. The t:slim G4 insulin delivery system is a continuous blood glucose monitoring enabled pump with a touch screen. Tandem Diabetes also sells pump-related supplies and accessories. Pump sales account for the majority of revenue. The company earns virtually all of its revenue in the United States.
