In a report released today, Suraj Kalia from Northland Securities assigned a Buy rating to Insulet Corp (NASDAQ: PODD), with a price target of $100. The company’s shares opened today at $85.81.
Kalia said:
“We believe that despite the noise surrounding the tslim x2 artificial pancreas pump and Medtronic’s 670G, Insulet should report a strong Q2 number. In addition, the 2nd half of FY18 brings in a go-direct strategy in Europe, allowing a recapture of the transfer margins to Ypsomed, and a step up in top line sales.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 14.3% and a 61.4% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Insulet Corp with a $103 average price target, which is a 20.0% upside from current levels. In a report issued on July 10, BMO Capital also maintained a Buy rating on the stock with a $115 price target.
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The company has a one-year high of $102.89 and a one-year low of $48.82. Currently, Insulet Corp has an average volume of 573.8K.
Based on the recent corporate insider activity of 72 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.
