Edwards Lifesciences and Tandem Diabetes Care rise after Citi upgrades to 'buy'

Tandem Diabetes Care

22/05/2024 13:45

(Updates)
    ** Shares of medical device maker Edwards Lifesciences
 EW.N  rise 1.6% to $91.76 premarket
    ** Tandem Diabetes Care  TNDM.O  shares also rise 4.4% to
$51.50
    ** Brokerage Citi Research upgrades EW and TNDM to "buy"
from "neutral"
    ** Citi raises EW's PT to $105 from $98 and TNDM's to $57
from $40
    ** There is increasing interest in medtech generally with
patient volumes continuing to be strong due to a combination of
pent-up demand and aging baby boomer demographics, we believe -
Citi
    ** The U.S. hospital capital purchasing environment is
stable, with interest in new fleets of infusion pumps and
robotic technologies, Citi added
    ** YTD, EW up 18.5% and TNDM up 66.7%, up to last close

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))