Cowen analyst Ryan Blicker noted that a medical device report, filed by Tandem Diabetes with the FDA, from October 3 citing a patient death is driving weakness in the stock. Management told him they "have no reason to believe there was any pump malfunction" and he believes it is "99%+" unlikely that Tandem is at fault in the patient's death. He points to two reasons for his view: Basal-IQ is only capable of regulating basal insulin, not bolus insulin, which means the system could not have delivered a faulty bolus causing a severe hypoglycemic event; and reports of patient deaths while using medical devices are quite common in the Manufacturer and User Facility Device Experience database, while patients with Type 1 diabetes are at high risk of these events. Blicker, who doesn't expect the current stock weakness to persist, has an Outperform rating on Tandem Diabetes shares.