In a report issued on May 3, Sean Lavin from BTIG maintained a Hold rating on Insulet Corp (NASDAQ: PODD). The company’s shares closed on Friday at $83.88.
Lavin noted:
“Wins; Upcoming EU Transition Seems Well Run Insulet reported a ~$2M revenue beat vs consensus estimates, topping its quarterly guidance range with small beats on all its reported segments— US, International, and Drug Delivery. Gross margin and operating margin were better than expected, as well. The bottom end of 2018 rev guidance was lifted by $5M to $565-$580M (prior $560-$580M). These results were enhanced by commentary on the call that, in our view, points to a carefully controlled transition to direct sales in Europe starting July 1. PODD also recently racked up wins with UnitedHealthcare (UNH, Not Rated) and two Medicare Part D plan sponsors. All in, we saw this as a positive report, but with PODD having run about $10 since the last report a nice result was likely expected and it may not be strong enough to push shares higher Friday.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 15.0% and a 63.2% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Boston Scientific Corp, and Varian Medical Systems.
Currently, the analyst consensus on Insulet Corp is Strong Buy and the average price target is $93.09, representing a 11.0% upside.
In a report issued on May 4, Oppenheimer also assigned a Hold rating to the stock with a $90 price target.
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The company has a one-year high of $94.26 and a one-year low of $38.43. Currently, Insulet Corp has an average volume of 461.7K.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock.
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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.
