Piper wonders if Medtronic’s 780G will be delayed further by FDA inspections

Piper Sandler analyst Matt O’Brien notes that the firm noticed on the FDA website that Medtronic’s (MDT) Northridge diabetes facility had an inspection on March 10 that resulted in "at least one and potentially a few" 483s, which are reports detailing inspectional observations. While unsure of "what this or these 483s might be related to," the firm says the facility is under a warning letter and contends "it may prove challenging to get it lifted following the results of the inspection." The firm, which questions whether more 483 notices at Northridge will mean that the 780G will be delayed further, says if so it "could be some well-received news" for Tandem Diabetes (TNDM) and Insulet (PODD), both of which the firm has Overweight ratings on. Piper keeps a Neutral rating on shares of Medtronic.