BTIG analyst Sean Lavin maintained a Hold rating on Insulet Corp (PODD) on November 1. The company’s shares closed on Friday at $88.53.
Lavin commented:
“Weakness in US Insulet’s total revenue topped consensus by more than $2M, but US Omnipod sales—typically an outperformer—missed by almost $1M. This was due in part to a more marked shift toward greater pharmacy access, a long-term positive for patient adoption and operating costs in our view but a near-term headwind for revenue. The pharmacy channel dynamic is expected to strengthen with the full market release of DASH in 2019. At this point, we expect the benefit to new patient growth to offset much of the revenue setback. Looking abroad, International Omnipod sales were better than expected and the division is expected to end 2018 at a $200M annual run rate. It seems the hiccups around the mid-year transition are behind PODD. On the P&L, gross margins were again outstanding, but we do not expect much improvement in 2019 as the new Mass. manufacturing facility comes online.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 12.3% and a 61.0% 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 $108.75 average price target, a 22.8% upside from current levels. In a report issued on November 2, Oppenheimer also assigned a Hold rating to the stock with a $100 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 $2.23 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.
