Dexcom slips after Medtronic gets nod for insulin delivery system

Shares of Dexcom (DXCM), a medical device company focused on continuous glucose monitoring systems for use in treating and managing diabetes, are sliding this afternoon after rival Medtronic (MDT) announced it has received FDA approval of its MiniMed 670G system. WHAT'S NOTABLE: Medtronic, which called the MiniMed 670G the "first Hybrid Closed Loop insulin delivery system approved anywhere in the world," said it will begin commercial release of the system in the spring of 2017 with system availability increasing over time. PRICE ACTION: Shares of DexCom are down over 8% to $85.93 in afternoon trading.