Craig-Hallum lowered the firm’s price target on Tandem Diabetes to $35 from $50 and keeps a Buy rating on the shares. The firm notes the broad diabetes pause has continued into Q3. Revenue slightly exceeded expectations and 2023 sales guidance was lowered by -$20M due to reduced pump orders from overseas distributors caused by timing and process issues with upcoming product launches and a possible $10M reduction from a France reimbursement change regarding Control-IQ, Craig-Hallum adds.
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