Citi analyst Joanne Wuensch downgraded Tandem Diabetes (TNDM) to Sell from Neutral with a price target of $14, down from $24. The firm believes the impact of potential competitive bidding on pump manufacturers will be a focus for investors this quarter. Amid mounting competitive pressures, it will be difficult for Tandem shares to rally, the analyst tells investors in a research note. Citi believes the stock will remain under pressure.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TNDM:
- Wells says CBP proposal for CGMs expected, insulin pumps inclusion ‘a surprise’
- Diabetes device maker shares slide after payment scheduling proposal
- Diabetes stocks rally after RFK comments on HHS campaign
- Cisco upgraded, CoreWeave downgraded: Wall Street’s top analyst calls
- Tandem Diabetes initiated with a Hold at Truist