Strength Seen in Tandem Diabetes Care, Inc. (TNDM): Can Its 8.9% Jump Turn into More Strength?
Tandem Diabetes Care, Inc. TNDM shares soared 8.9% in the last trading session to close at $27.15. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.7% loss over the past four weeks.
Tandem Diabetes scored a strong price increase, driven by optimism surrounding the company receiving the FDA approval for its miniaturized Tandem Mobi, for diabetes patients aged 6 and above.
Joining the company’s portfolio of insulin delivery solutions, Tandem Mobi is powered by the best-in-class Control-IQ technology and is fully controllable from a mobile application. The company’s t:slim X2 insulin pump featuring the advanced hybrid closed-loop technology, is currently rated number one in the market.
This company is expected to post quarterly loss of $0.54 per share in its upcoming report, which represents a year-over-year change of -125%. Revenues are expected to be $201.8 million, up 0.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tandem Diabetes Care, Inc., the consensus EPS estimate for the quarter has been revised 5.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TNDM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tandem Diabetes Care, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, OPKO Health OPK, finished the last trading session 1.9% higher at $2.15. OPK has returned 37% over the past month.
For OPKO Health , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. This represents a change of -75% from what the company reported a year ago. OPKO Health currently has a Zacks Rank of #2 (Buy).
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Tandem Diabetes Care, Inc. (TNDM) : Free Stock Analysis Report
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