Tandem Diabetes price target lowered to $21 from $30 at Wells Fargo

Wells Fargo lowered the firm’s price target on Tandem Diabetes to $21 from $30 and keeps an Equal Weight rating on the shares. The firm notes Tandem reported Q3 sales that were largely in line with expectations, but lowered OUS sales guide due no meaningful new orders placed by distributors and to account for the initial impact of the change in reimbursement in France.