Baird analyst Jeff Johnson notes that Abbott (ABT) and Tandem Diabetes (TNDM) have announced an agreement to develop and commercialize integrated diabetes solutions combining the former's next-generation FS Libre with the latter's "innovative insulin delivery systems." While the analyst is not "overly surprised" by this announcement as Tandem has long said it would eventually work with various CGM manufacturers, release timing raises several questions, including about potential for further iCGM timing delays for Libre. Regardless, Johnson sees the news as "slightly positive" for Tandem and "slightly negative" for DexCom (DXCM), but "nothing overly impactful" for either over next year or two. He has an Outperform rating and $81 price target on Tandem's shares.

Leerink upgraded Tandem Diabetes to Outperform from Market Perform with a $45 price target.