Analysts Anticipate T2 Biosystems Inc (NASDAQ:TTOO) Will Announce Earnings of -$0.31 Per Share
Wall Street analysts expect T2 Biosystems Inc (NASDAQ:TTOO) to announce earnings per share of ($0.31) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for T2 Biosystems’ earnings. The highest EPS estimate is ($0.28) and the lowest is ($0.33). T2 Biosystems posted earnings per share of ($0.25) during the same quarter last year, which would indicate a negative year-over-year growth rate of 24%. The business is scheduled to report its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that T2 Biosystems will report full-year earnings of ($1.20) per share for the current year, with EPS estimates ranging from ($1.30) to ($1.10). For the next financial year, analysts anticipate that the company will report earnings of ($0.76) per share, with EPS estimates ranging from ($0.98) to ($0.58). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative net margin of 722.70% and a negative return on equity of 1,263.94%. The company had revenue of $1.80 million during the quarter, compared to the consensus estimate of $1.95 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The company’s revenue for the quarter was down 53.8% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the company. Keybank National Association OH lifted its holdings in T2 Biosystems by 44.4% during the 1st quarter. Keybank National Association OH now owns 65,000 shares of the medical equipment provider’s stock worth $171,000 after buying an additional 20,000 shares in the last quarter. Lau Associates LLC acquired a new position in T2 Biosystems during the 1st quarter worth $33,000. BlackRock Inc. lifted its holdings in T2 Biosystems by 6.3% during the 4th quarter. BlackRock Inc. now owns 2,056,222 shares of the medical equipment provider’s stock worth $6,188,000 after buying an additional 121,836 shares in the last quarter. Cable Hill Partners LLC lifted its holdings in T2 Biosystems by 100.0% during the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 5,000 shares in the last quarter. Finally, Focused Wealth Management Inc lifted its holdings in T2 Biosystems by 48.7% during the 1st quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 10,000 shares in the last quarter. 38.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of TTOO stock traded up $0.21 during trading hours on Friday, hitting $1.11. The company had a trading volume of 47,525 shares, compared to its average volume of 2,769,334. T2 Biosystems has a 12 month low of $0.52 and a 12 month high of $7.70. The firm has a market capitalization of $40.09 million, a price-to-earnings ratio of -0.87 and a beta of 1.61. The firm’s fifty day moving average is $1.25 and its 200 day moving average is $2.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.52 and a current ratio of 0.58.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. 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.
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