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TNDM

TNDM

, ABT

Abbott

$81.63

1.82 (2.28%)

10:00
10/15/19
10/15
10:00
10/15/19
10:00

Tandem, Abbott agreement raises several questions, says Baird

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.

TNDM

TNDM

ABT

Abbott

$81.63

1.82 (2.28%)

DXCM

DexCom

$147.49

-12.71 (-7.93%)

  • 16

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    Nov

TNDM TNDM

09/27/19
PIPR
09/27/19
NO CHANGE
PIPR
Piper says insulin pump survey most positive for Insulet
Piper Jaffray analyst JP McKim conducted an insulin delivery survey in August and found that pump penetration is going "much higher" both in type 1s and in type 2s. The growth in the type 2 market is underappreciated by investors and will largely benefit Insulet (PODD) today given the pharmacy channel increases that access, McKim tells investors in a research note. Further, survey indicated that Medtronic (MDT) is expected to lose between 1,100-1,300 basis points of market share with Tandem Diabetes (TNDM) being the greatest beneficiary with the biggest uptick forecast in 2020, says the analyst. McKim views the insulin pump survey as most positive for Insulet.
10/04/19
UBSW
10/04/19
UPGRADE
Target $75
UBSW
Buy
UBS upgrades Tandem Diabetes to Buy with 33% upside potential
UBS analyst Matthew Taylor upgraded Tandem Diabetes Care to Buy from Neutral with an unchanged price target of $75. The stock closed Thursday up $1.53 to $56.58. The analyst says that while he understands concerns about slowing growth on tough comps, he sees "several sources of growth" that should allow Tandem to deliver upside to consensus in 2020 and beyond. The stock offers 33% upside from current levels and a favorable risk/reward skew, Taylor tells investors in a research note. While Tandem will derive less revenue from Animas patients next year, the gap can be more than filled by pump market growth that is accelerating, market share gains of new patients, and the company's "underpenetrated" growth outside the U.S., contends the analyst.
10/04/19
10/04/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Brian Nowak saying he acknowledges that in the year-to-date he has underestimated Snap's stronger execution and ability to drive growth. 2. Charter (CHTR) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brandon Nispel saying he believes Charter remains well positioned to benefit from increased penetration rates in broadband, higher download speed take rates to drive broadband prices higher, and an overall mix shift to higher-margin "Growth Business." 3. Boston Beer (SAM) upgraded to Neutral from Sell at UBS with analyst Sean King saying he has greater confidence in the company's fiscal 2020 sales growth story "flowing through to earnings growth." 4. Hub Group (HUBG) upgraded to Overweight from Neutral at JPMorgan. 5. Tandem Diabetes (TNDM) upgraded to Buy at UBS with 33% upside potential with analyst Matthew Taylor saying while he understands concerns about slowing growth on tough comps, he sees "several sources of growth" that should allow Tandem to deliver upside to consensus in 2020 and beyond. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/15/19
PIPR
10/15/19
NO CHANGE
PIPR
Overweight
Abbott partnership a positive for Tandem Diabetes, says Piper Jaffray
Piper Jaffray analyst JP McKim said Tandem Diabetes' (TNDM) and Abbott's (ABT) announcement that they are exploring a diabetes management closed loop system is the first step in a process that he believes will need at least 10 months, and likely more, to result in an integrated product coming to market. While he does not know if this announcement implies integration with the Libre 2.0 or Libre 3.0, his "gut is most likely Libre 3.0" but he views the news as a positive for Tandem "either way." The news will likely have a negative read-through for DexCom (DXCM), added McKim, who expects a similar announcement from Insulet (PODD) about working with Abbott as well. McKim keeps an Overweight rating and $80 price target on Tandem shares.
ABT Abbott
$81.63

1.82 (2.28%)

07/18/19
COWN
07/18/19
NO CHANGE
Target $95
COWN
Outperform
Abbott price target raised to $95 from $86 at Cowen
Cowen analyst Joshua Jennings raised his price target on Abbott to $95 from $86 following Q2 earnings. The analyst said the quarter's highlight was the organic sales growth of 7.5% which was above its target of 7.0%, reflecting continued strength for Libre, MitraClip, and Alinity. He noted management raised it guidance for organic sales growth and earnings and he believes the company can continue to post above consensus results in the second half of the year. Jennings reiterated his Outperform rating on Abbott shares.
07/18/19
JEFF
07/18/19
NO CHANGE
Target $98
JEFF
Buy
Abbott price target raised to $98 from $80 at Jefferies
Jefferies analyst Raj Denhoy raised his price target for Abbott Laboratories to $98 from $80 saying the company's growth story is "still going strong" following its Q2 results. The quarter is more proof that the pharma exit and medtech "double-down" was right move, Denhoy tells investors in a research note. Despite Abbott's "strong" current momentum, each product cycle is still in early innings, adds the analyst. He keeps a Buy rating on the shares.
09/23/19
PIPR
09/23/19
NO CHANGE
Target $182
PIPR
Overweight
DexCom remains a 'must own' stock for investors, says Piper Jaffray
After hosting meetings with management, Piper Jaffray analyst JP McKim believes DexCom (DXCM) remains "a must own for investors." First off, the analyst does not believe the company was "walking down" numbers at a recent investor conference. Continuous glucose monitoring demand remains "robust" and importantly, G7 is only 12-15 months away, McKim tells investors in a research note. The analyst also left the meetings "with a lot more bullishness" on the hospital market as well as the non-intensive Type 2 market, where he believes DexCom's sensor technology will have an impact. McKim does expect share volatility around the near-term approval of Abbott's (ABT) Libre 2.0 with integrated continuous glucose monitoring, but he believes the impact DexCom "will be short lived in nature." McKim keeps an Overweight rating on the shares with a $182 price target. The stock closed Friday down 59c to $154.40.
DXCM DexCom
$147.49

-12.71 (-7.93%)

08/01/19
PIPR
08/01/19
NO CHANGE
PIPR
Overweight
Piper says nonprofit's survey positive for Tandem, DexCom, Insulet
Piper Jaffray analyst JP McKim noted that T1D Exchange, a nonprofit research organization, released its findings of a survey of Type 1 Diabetes patients. The survey results lead him to believe "there is plenty of growth just in the Type 1 market ahead" for Dexcom (DXCM), to be followed by the G7 launch, which will "help unlock the Type 2 market." The survey also points to "an unprecedented level of market share taking" by Tandem (TNDM) in the first 6 months of the year and was positive for Insulet (PODD) as well, McKim tells investors. He has Overweight ratings on all three stocks mentioned.
09/03/19
BMOC
09/03/19
NO CHANGE
Target $190
BMOC
Outperform
DexCom price target raised to $190 from $180 at BMO Capital
BMO Capital analyst Joanne Wuensch raised her price target on DexCom to $190 after holding talks with its management, saying the company is looking to sustain its growth by expanding its offerings to treat the 4M gestational, 14M hospital, 27M Type 2 non-intensive, and 84M pre-diabetes patients. The analyst contends that Dexco has the momentum in place for several years, though its immediate task is doubling its manufacturing capacity for G6 CGM by the end of 2019, followed by the FDA approval of its G7 CGM by the end of 2020. Wuensch keeps her outperform rating on DexCom.

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INTC

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