Tandem Diabetes (TNDM) Launches Dexcom G7 Integrated t:slim X2 – December 7, 2023
Tandem Diabetes Care, Inc. (TNDM – Free Report) recently launched the updated t:slim X2 insulin pump software with Dexcom G7 Continuous Glucose Monitoring (“CGM”) integration in the United States. This marks the company’s flagship pump platform, t:slim X2, with the Control-IQ technology, to be the only automated insulin delivery (AID) system in the world to feature Dexcom’s most advanced CGM technology.
Tandem Diabetes’ product innovations are helping expand its reach into different customer segments of the market beyond where it operates, providing additional choices to new and existing customers to manage their diabetes. The launch of the Tandem t:slim X2 insulin pump integrated with Dexcom G7 further demonstrates the company’s commitment to continued leadership in advancing AID systems.
News in Detail
With the integration of Dexcom G7, t:slim X2 insulin pump, users can now spend more time in a closed loop with little to no wait time between Dexcom G7 CGM sensor sessions. The users are allowed even more choices in their diabetes management, with the option of using either a Dexcom G6 or a Dexcom G7 CGM sensor.
The Dexcom G7 sensor is 60 percent smaller than its predecessor, Dexcom G6, and offers a range of new features. Apart from being the most accurate, the new, discreet sensor is also the fastest CGM connected to the t:slim X2 pump, with a 30-minute sensor warmup time compared to two hours previously. Dexcom G7 also features a 12-hour grace period to replace the finished sensors for a more seamless transition between sessions and flexibility when changing sensors.
Tandem Diabetes will email instructions to all in-warranty t:slim X2 users in the United States to offer the option to add the new feature free of charge via remote software update. Pre-loaded with the updated software, t:slim X2 pumps are now being shipped to new customers.
Significance of the Launch
The Tandem Diabetes-Dexcom collaboration has entered its 10th year, and the company is focused on sustaining the rapid pace of innovation to further its mission of helping improve the lives of people with diabetes. With the latest offering, Tandem Diabetes now provides more than 300,000 current t:slim X2 users the ability to integrate with Dexcom’s most advanced CGM technology.
Outside the United States, the t:slim X2 pump with Dexcom G7 integration is expected to be launched in additional countries in early 2024.
Per a Research report, the AID system market was valued at $749.2 million in 2022 and is expected to witness a CAGR of 9.8% by 2030.
Bright Prospects of Product Innovations
It has been a transitional time for Tandem Diabetes as it prepares for its next phase of growth through the expansion of its technology offerings. The company is executing several near-term product launches while implementing scalable systems and processes to support its global operations and leverage the infrastructure.
Apart from G7, Tandem Mobi is also preparing for the launch of the t:slim X2 integration with the Abbott FreeStyle Libre 2 sensor. This new integrated offering is an incredible accomplishment, bringing the benefits of AID technology to Abbott’s customers in the United States for the first time.
In addition, Tandem Mobi is leading the way in creating a whole new category of devices for insulin therapy. The anticipation around the novel miniaturized durable pump has started to build and is already generating incredible interest among healthcare providers, people using multiple daily injections and current pumpers. Management is set to begin Mobi’s scaled launch with a limited release in the fourth quarter, followed by broad availability in early 2024.
In the past six months, TNDM shares have declined 8% compared with the industry’s fall of 6.2%.
Zacks Rank and Key Picks
Tandem Diabetes Care currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE – Free Report) , Insulet (PODD – Free Report) and DexCom (DXCM – Free Report) . Haemonetics and DexCom each presently carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has decreased 1.9% in the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.85 to $1.91 in the past 30 days. Shares of the company have dropped 37.6% in the past year compared with the industry’s decline of 6%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.5%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.41 to $1.43 in the past seven days and to $1.44 in the past 30 days. Shares of the company have decreased 4% in the past year compared with the industry’s decline of 6.5%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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