Tandem Diabetes down 5% after FDA approves Medtronic’s MiniMed 780G

Piper Sandler analyst Matt O’Brien previously had questioned whether more inspection notices related to Medtronic’s (MDT) Northridge diabetes facility would mean that the 780G would be delayed further, stating that if that were to be the case it "could be some well-received news" for Tandem Diabetes (TNDM) and Insulet (PODD). Shares of Tandem are down over 5% to $36.88 in afternoon trading after the FDA announced it has approved the MiniMed 780G System for modifications to the SmartGuard Technology and for expanding the indications for use to include the Guardian 4 Sensor, while shares of Insulet are down 1% to $316.65.