BTIG analyst Sean Lavin maintained a Hold rating on Insulet Corp (PODD) today. The company’s shares opened today at $93.42.
Lavin noted:
“As anticipated, Insulet reported a Q4 beat, topping consensus revenue by ~$2.5M and coming in nine cents ahead on EPS. Despite this, guidance for 2019 was set below consensus due to markedly lower expectations for Drug Delivery revenue in the face of Neulasta competition. We understand the competitive dynamic but think management may be employing some conservatism on the European business. In our view, the shift to a direct selling model, increasing rep productivity, and more payor coverage should all help the European business remain strong. In addition, a full U.S. launch of DASH is slated to start around the end of Q1. This should bring enthusiastic patient and payor adoption, offset by an early revenue drag as the Personal Diabetes Manager (PDM) sale is eliminated. We think the below-Street guidance will hold shares range bound.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 10.8% and a 60.4% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Insulet Corp with a $102.80 average price target.
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Based on Insulet Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.66 million. In comparison, last year the company had a GAAP net loss of $6.86 million.
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Insulet Corp. is an innovative medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals. The company was founded by John L. Brooks III and John T. Garibotto in July 2000 and is headquartered in Billerica, MA.
