Leerink Partners Raises Price Target on Insulet (PODD) to $50; Reiterates Outperform

Leerink Partners reiterated an Outperform rating on Insulet Corporation (NASDAQ: PODD), and raised the price target to $50.00 (from $40.00), following the company's 2Q earnings report.

Analyst Danielle Antalffy commented, "Another strong quarter of outperformance supports our recent view that PODD is shaping up to be – if it isn’t already – one of the cleanest execution stories within our SMID-cap coverage universe. With CEO Sullivan now having “righted” the foundation of the company since taking the helm in September 2014, PODD, in our view, is now well positioned to sustain if not accelerate recent momentum across all businesses. But even more meaningful than the revenue beat in the quarter, gross margin came in over 700 bps ahead of us, placing PODD on an even clearer path to profitability now likely in mid-2017 vs. our prior late 2017 projection."

For an analyst ratings summary and ratings history on Insulet Corporation click here. For more ratings news on Insulet Corporation click here.

Shares of Insulet Corporation closed at $35.45 yesterday.

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