$1.15 Million in Sales Expected for T2 Biosystems, Inc. (TTOO) This Quarter
Equities analysts expect that T2 Biosystems, Inc. (NASDAQ:TTOO) will announce $1.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for T2 Biosystems’ earnings. The highest sales estimate is $1.20 million and the lowest is $1.10 million. T2 Biosystems reported sales of $910,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The company is expected to announce its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that T2 Biosystems will report full-year sales of $1.15 million for the current financial year, with estimates ranging from $3.95 million to $4.21 million. For the next year, analysts anticipate that the business will post sales of $11.87 million per share, with estimates ranging from $7.50 million to $20.40 million. Zacks’ sales averages are an average based on a survey of analysts that follow T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.04. The firm had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.10 million. T2 Biosystems had a negative net margin of 1,497.70% and a negative return on equity of 244.82%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.
A number of analysts have issued reports on TTOO shares. ValuEngine raised shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. HC Wainwright started coverage on shares of T2 Biosystems in a report on Wednesday, October 18th. They issued a “buy” rating and a $8.00 price objective for the company. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $6.00 price objective on shares of T2 Biosystems in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.54.
T2 Biosystems (NASDAQ:TTOO) traded down $0.18 during midday trading on Friday, reaching $3.97. 93,300 shares of the company’s stock were exchanged, compared to its average volume of 170,444. The company has a quick ratio of 5.28, a current ratio of 5.40 and a debt-to-equity ratio of 2.25. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $7.07.
Several institutional investors have recently modified their holdings of TTOO. LMR Partners LLP bought a new stake in shares of T2 Biosystems during the 2nd quarter worth approximately $180,000. Susquehanna International Group LLP increased its position in T2 Biosystems by 931.3% during the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 95,920 shares in the last quarter. Bank of New York Mellon Corp increased its position in T2 Biosystems by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 201 shares in the last quarter. Essex Investment Management Co. LLC increased its position in T2 Biosystems by 221.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 143,495 shares in the last quarter. Finally, Lagoda Investment Management L.P. increased its position in T2 Biosystems by 15.4% during the 2nd quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock worth $6,343,000 after purchasing an additional 264,337 shares in the last quarter. 53.39% of the stock is owned by institutional investors.
About T2 Biosystems
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
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