Insulin pump renewals to be important tailwind for Tandem, says Oppenheimer

Oppenheimer analyst Steve Lichtman reiterated an Outperform rating and $57 price target on Tandem Diabetes Care (TNDM), telling investors in a research note that he believes insulin pump renewals will become an increasingly important tailwind to the Tandem business over the next couple of years. Year-to-date, he estimates Tandem captured greater than55% of potential renewals with durable pumps having four year warranties, at which point insurance typically covers a new pump. Lichtman says pipeline ramp and OUS remain potential upside drivers as does the potential for coverage reinstatement by UnitedHealth (UNH).

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