Morgan Stanley analyst Patrick Wood maintains $Insulet (PODD.US)$ with a buy rating, and adjusts the target price from $234 to $317.
According to TipRanks data, the analyst has a success rate of 50.0% and a total average return of 6.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Insulet (PODD.US)$'s main analysts recently are as follows:
Insulet was recognized for its robust third-quarter performance, marked by solid growth, impressive cash flow attributes, and upcoming catalysts, which were highlighted following the company's earnings announcement.
Despite a modest 1% increase over the consensus estimates for U.S. sales, the significant outperformance outside the U.S. and enthusiasm for the T2 segment were sufficient to propel Insulet shares upward by over 9%, reaching a 12-month high in valuation. Nevertheless, anticipated competition in the T2 space, tubeless systems, and the pharmacy channel may lead to a normalization of the company's valuation multiple.
After Insulet's third-quarter earnings surpassed expectations, it was noted that the Type 2 label expansion in the U.S. at the end of August significantly contributed to robust new customer initiation in September. Moreover, over a quarter of the new U.S. initiations in the third quarter were attributed to patients with Type 2 diabetes.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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