In a report released today, Steven Lichtman from Oppenheimer maintained a Hold rating on Insulet Corp (NASDAQ: PODD), with a price target of $96. The company’s shares closed yesterday at $87.54.
Lichtman observed:
“PODD’s 2Q18 sales of $124.3M (+13% yoy) were below our/Street’s $132.5/$132.9M estimates, as healthy performance in US and higher drug delivery were offset by lower international sales impacted by higher than expected excess inventory from distributor Ypsomed as PODD transitioned to direct sales in Europe on 7/1/18. GM was well ahead (66% vs. our 62%) owing to manufacturing/operational improvements and mix on lower OUS (contributed ~3pts to GM). FY18 guidance was lowered by $18M to $547-562M on the excess inventory impact (~$22M total). Management highlighted ongoing limited market release of DASH last month, initial benefits from in-network coverage of and continued work with Medicare Part D plan sponsors to be added to formularies for 2019.”
According to TipRanks.com, Lichtman has 0 stars on 0-5 star ranking scale with an average return of -2.5% and a 53.1% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Motus Gi Holdings Inc.
Currently, the analyst consensus on Insulet Corp is a Strong Buy with an average price target of $103.20.
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The company has a one-year high of $102.89 and a one-year low of $51.36. Currently, Insulet Corp has an average volume of 663.1K.
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.
