Bernstein SocGen Group analyst Lee Hambright lowered the price target on Insulet Corporation (NASDAQ: PODD) to $200.00 (from $330.00) while maintaining a Outperform rating.

The analyst commented: "With shares down 56% since November, PODD now trades at a 3.0x P/S (NTM), well below its 9.6x 10-year average (Exhibit 2). This feels cheap even if they company could only grow at half the 20% LRP rate (we’re at ~19% through 2028). Unfortunately, we didn’t hear anything that’s likely to convince bears to change their minds. Bears will continue to spread fear about new patch pump competitors and impending price pressure, and these stories will likely be impossible to disprove in the near term. With the broader medtech sector out of favor, PODD shares may take time to rebound."