Piper Jaffray analyst JP McKim said some will interpret UnitedHealth's (UNH) recently updated insulin pump policy, which expands Medtronic's (MDT) preferential agreement to patients age 7 and older, to mean that Tandem Diabetes (TNDM) "is farther away from getting back into good graces" with the insurer. However, while he understands that logic, McKim said he cannot know for sure either way and he thinks it won't have any real impact on Tandem's revenues. McKim, who keeps an Overweight rating on Tandem Diabetes shares, added that "patients and physicians hate this agreement as everyone wants open options for patients."

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

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