Oppenheimer Reaffirms Their Hold Rating on Insulet Corp

Oppenheimer analyst Steven Lichtman maintained a Hold rating on Insulet Corp (NASDAQ: PODD) today and set a price target of $90. The company’s shares closed yesterday at $87.09, close to its 52-week high of $89.63.

Lichtman commented:

“PODD’s 1Q18 sales of $123.6M (+21% yoy) were slightly ahead of our/Street’s $121.9M/$121.8M, led by higher international sales versus our estimate. EPS of ($0.11) topped our ($0.22) on GM outperformance (61.4%) from manufacturing/ operations initiatives, and better opex leverage. Management highlighted new in- network coverage of Omnipod in UnitedHealthcare and the addition of Omnipod as a covered benefit by two Medicare Part D plan sponsors; both should be more impactful in 2019. Progress continues to be made toward the transition of Insulet’s business in Europe from Ypsomed to Insulet including the build out of an Insulet Europe team and recent distribution and logistical partnership announcements. PODD raised the low end of prior FY18 guidance by $5M to $565-580M and reiterated GM (63-64%) and OM (low-single digit).”

According to TipRanks.com, Lichtman is ranked 0 out of 5 stars with an average return of -6.4% and a 50.5% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, Wright Medical Group, and K2M Group Holdings.

Insulet Corp has an analyst consensus of Strong Buy, with a price target consensus of $92.18.

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Based on Insulet Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $124 million and GAAP net loss of $6.57 million. In comparison, last year the company earned revenue of $102 million and had a GAAP net loss of $9.98 million.

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.