Tandem Diabetes price target lowered to $40 from $45 at Baird

Baird lowered the firm’s price target on Tandem Diabetes to $40 from $45 and keeps a Neutral rating on the shares. The analyst said management tweaked 2023 revenue guidance provided just last month a bit lower, and with our math continuing to suggest new pump starts could continue declining most, if not all, of this year even before a potential further ramping of competitive pressures over coming quarters.