Analyst Josh Jennings of TD Cowen maintained a Buy rating on Insulet (PODD – Research Report), boosting the price target to $264.00.
Josh Jennings has given his Buy rating due to a combination of factors surrounding Insulet’s recent financial performance and strategic product developments. Insulet experienced a strong quarter with revenue and operating margins surpassing both the company’s guidance and analyst expectations. The consistent outperformance is supported by significant growth in constant currency terms, with U.S. and international Omnipod sales exceeding projections. Furthermore, gross and operating margins have shown impressive year-over-year expansions, contributing to a robust earnings per share that more than tripled compared to the previous year.
Additionally, Jennings’s optimism is bolstered by Insulet’s upward revision of its full-year guidance, which suggests sustained growth momentum. The company’s strategic pipeline launches, scheduled for later in the year, are set to further enhance revenue growth and mitigate risks associated with their financial targets. Key product developments, such as the integration of Omnipod 5 with advanced sensor technology and expansion into new markets, demonstrate Insulet’s commitment to innovation and market expansion. Early positive feedback from limited market releases in Europe and planned launches in the U.S. underscore the potential for these products to strengthen Insulet’s market position.
PODD’s price has also changed slightly for the past six months – from $155.100 to $165.900, which is a 6.96% increase.
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Insulet (PODD) Company Description:
Insulet Corp. is a medical device company. The firm engages in the development, manufacture and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals. The company was founded by John L. Brooks III and John T. Garibotto in July 2000 and is headquartered in Acton, MA.
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