Jefferies raised its price target on Insulet Corporation (NASDAQ: PODD) to $53.00 (from $45.00) while maintaining a Buy rating.

Analyst Raj Denhoy commented, "PODD's 4Q sales were $3mn above guidance with strength in all areas: US +17%, OUS +35%, and DD +34%. New patient starts in 2016 at +13% missed the +20% annual target reiterated just last Q. To this end, mgmt highlighted that a more important metric to pay attention to is the 15k total patient adds (vs. 13k in 2015) and the installed base grew by 15%. Despite 670G around the corner, Insulet remains largely dismissive of the launch."