Insulet Corp (PODD) Gets a Hold Rating from Oppenheimer


Oppenheimer analyst Steven Lichtman maintained a Hold rating on Insulet Corp (PODD) today and set a price target of $100. The company’s shares closed yesterday at $86.08.

Lichtman observed:

“PODD’s 1Q19 sales of $159.6M (+29% y/y) topped our/Street’s $154.7M/$154.6M estimates, on higher US and drug delivery performance. Operating margin was ahead (4.6% vs. 4.1%E) on slightly higher gross margin (66.9% vs. 66.6%E) and G&A leverage. EPS was $0.07 vs. our/Street’s $0.01E with lower interest/Other expense also contributing. FY19 sales guidance was raised to $667-690M (+18-22% y/y), from $662-687M, with segment guidance slightly increasing across the board. DASH full launch is under way, and HORIZON remains on track for a pivotal trial start in 4Q19, followed by a 2H20E launch. Management also highlighted continued progress in pharmacy channel development, Medicare/Medicaid access and expected additional margin leverage with the company’s new, more automated manufacturing facility ramping production.”

According to TipRanks.com, Lichtman is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.8% and a 45.0% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tandem Diabetes Care Inc, and Boston Scientific Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Insulet Corp with a $104.50 average price target.

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The company has a one-year high of $108.91 and a one-year low of $70.80. Currently, Insulet Corp has an average volume of 658.2K.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.

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Insulet Corp. is a 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 Acton, MA.

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