Analyst Larry Biegelsen of Wells Fargo maintained a Buy rating on Insulet (PODD – Research Report), retaining the price target of $322.00.
Larry Biegelsen has given his Buy rating due to a combination of factors highlighted in the recent RADIANT study results. The study demonstrated significant improvements for patients using Insulet’s Omnipod 5 with Libre 2 system compared to those on multiple daily injections (MDI) with continuous glucose monitoring (CGM). Specifically, the Omnipod 5/Libre 2 users experienced a notable reduction in HbA1c levels and a substantial increase in time in range (TIR), indicating better glucose control.
Additionally, the positive outcomes from the RADIANT study are expected to enhance Insulet’s market access and reimbursement opportunities outside the United States, which could drive further adoption of their system domestically. The compelling data positions Insulet favorably in the automated insulin delivery (AID) market, reinforcing the potential for growth and justifying the Buy rating.
Biegelsen covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Dexcom, and Intuitive Surgical. According to TipRanks, Biegelsen has an average return of 10.5% and a 58.40% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $335.00 price target.
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