$2.52 Million in Sales Expected for T2 Biosystems Inc (TTOO) This Quarter
Wall Street brokerages expect that T2 Biosystems Inc (NASDAQ:TTOO) will post $2.52 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for T2 Biosystems’ earnings. The highest sales estimate is $2.60 million and the lowest is $2.40 million. The firm is expected to report its next earnings results on Thursday, February 7th.
On average, analysts expect that T2 Biosystems will report full-year sales of $11.23 million for the current year, with estimates ranging from $11.10 million to $11.31 million. For the next fiscal year, analysts anticipate that the company will report sales of $20.99 million, with estimates ranging from $18.70 million to $22.28 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, November 1st. The medical equipment provider reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $2.44 million. T2 Biosystems had a negative return on equity of 461.31% and a negative net margin of 522.30%. T2 Biosystems’s revenue was up 127.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) earnings per share.
In other T2 Biosystems news, Director Stanley Lapidus sold 6,048 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $5.29, for a total transaction of $31,993.92. Following the completion of the transaction, the director now directly owns 59,058 shares in the company, valued at $312,416.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas J. Lowery sold 138,144 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $6.18, for a total value of $853,729.92. Following the transaction, the insider now owns 57,873 shares of the company’s stock, valued at $357,655.14. The disclosure for this sale can be found here. Corporate insiders own 31.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new position in T2 Biosystems during the second quarter worth $100,000. Creative Planning acquired a new position in T2 Biosystems during the third quarter worth $112,000. Staley Capital Advisers Inc. acquired a new position in T2 Biosystems during the second quarter worth $116,000. Zacks Investment Management acquired a new position in T2 Biosystems during the second quarter worth $124,000. Finally, Thompson Davis & CO. Inc. acquired a new position in T2 Biosystems during the second quarter worth $127,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Shares of NASDAQ TTOO opened at $4.70 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.16 and a quick ratio of 6.81. T2 Biosystems has a one year low of $3.83 and a one year high of $9.98.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
Read More: New Google Finance Tool and Screening Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for T2 Biosystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.