UnitedHealthcare Could Add 5%+ to Tandem Diabetes Care (TNDM) 2020/2021 Revenue - Cowen
Cowen analyst Ryan Blicker reiterated an Outperform rating and $85.00 price target on Tandem Diabetes Care (NASDAQ: TNDM) after it was disclosed that TNDM will be covered on an in-network basis by UnitedHealthcare starting July 1.
"The bias was already to the upside vs. revenue estimates, and UNH coverage could add 5%+ to 2020/2021 revenue expectations," Blicker commented. "We expect Control-IQ to continue driving material share gains. Estimates should continue moving higher."
The firm's price target is under review.
Shares of Tandem Diabetes Care closed at $87.81 yesterday.