Insulet Corporation (PODD) PT Raised to $300 at Jefferies After Earnings
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Jefferies analyst Raj Denhoy raised the price target on Insulet Corporation (NASDAQ: PODD) to $300.00 (from $265.00) after the company posted a $14mn top-line beat as new patients improved to -10% of pre-COVID levels (-25% last Q). Initial guidance calls for 21-25% US OmniPod (midpoint 300bps ahead of Street) driven by DASH, continued MDI gains, and the OmniPod 5 (CGM integrated) soft launch.
The analyst reiterated the Buy rating, stating "Although valuation is rich, the premium is well-deserved as PODD is among the best positioned to benefit from the coming automation wave across diabetes." He went on to state "Several headlines will serve as future growth drivers over the next 12-18 months, including: 1) readout of pre-school pivotal study and FDA submission, 2) readout of T2 feasibility study, 3) launch of O5 compatible with Abbott (ABT, Buy) Libre, and 5) launch of O5 with control from iOS phones."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments
Related EntitiesJefferies & Co, Earnings, FDA
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