Wedbush Starts Insulet Corporation (PODD) at Outperform

Wedbush initiated coverage on Insulet Corporation (NASDAQ: PODD) with a Outperform rating and a price target of $46.00.

Analyst Tao Levy said, "Insulet’s flagship product is the OmniPod System, which is the only commercially available programmable insulin pump that does not need specialized tubing tethered to the patient. With a growing installed base of approximately 70,000 patients, a three-year revenue CAGR ('13-'16) of 22%, improving gross margins (we forecast 55% exiting 2014, up 700 basis points yr/yr), robust product pipeline/collaboration opportunities, and its first profitable year expected in 2015, we believe PODD is an attractive investment opportunity for small-cap growth investors."

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 $39.41 yesterday.

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