Tandem Diabetes price target lowered to $20 from $32 at Baird

Baird lowered the firm’s price target on Tandem Diabetes to $20 from $32 and keeps a Neutral rating on the shares. The firm said 3Q revenue was above the Street and likely a bit above buy-side expectations. But contraction in new U.S. pump shipments worsened and management again cut international revenue expectations for the year.