Shares of diabetes and glucose monitoring stocks are trading lower following a report suggesting Apple has named a leader for its team developing a glucose tracker. Additionally, Raymond James cut its price targets on Dexcom and Insulet.
Portfolio Pulse from Benzinga Newsdesk
Shares of diabetes and glucose monitoring companies are trading lower following a report that Apple is developing a glucose tracker. Raymond James also cut its price targets on Dexcom and Insulet.
September 15, 2023 | 4:18 pm
News sentiment analysis
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NEGATIVE IMPACT
Dexcom's stock price is trading lower after Raymond James cut its price target on the company.
The reduction in Dexcom's price target by Raymond James is a negative signal to investors, which could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Insulet's stock price is trading lower after Raymond James cut its price target on the company.
The reduction in Insulet's price target by Raymond James is a negative signal to investors, which could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tandem Diabetes Care's stock price may be impacted by the news of Apple developing a glucose tracker.
The news of Apple developing a glucose tracker could pose a competitive threat to Tandem Diabetes Care, potentially leading to a decrease in the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80