Analyst Josh Jennings from TD Cowen maintained a Buy rating on Insulet (PODD – Research Report) and keeping the price target at $324.00.
Josh Jennings has given his Buy rating due to a combination of factors that highlight Insulet’s strong financial performance and growth prospects. The company reported a robust quarter, surpassing market expectations with significant sequential growth in new patient starts for Type 1 and Type 2 diabetes in the United States. Furthermore, Insulet’s guidance for 2025, predicting 16-20% growth in the US Omnipod sector, aligns well with investor anticipations, suggesting continued momentum in the company’s market penetration.
Additionally, Insulet’s revenue figures showcased a noteworthy increase, with overall revenue growing by 17.1% on a constant currency basis, exceeding consensus estimates. The US Omnipod revenue alone saw a 12.4% rise, while international sales surged by 33.1%. Coupled with a strong gross margin of 72.1% and adjusted EBITDA surpassing expectations, these financial metrics collectively underpin Jennings’s positive outlook on Insulet, justifying the Buy rating.
Jennings covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, Stereotaxis, and Boston Scientific. According to TipRanks, Jennings has an average return of 7.8% and a 53.72% success rate on recommended stocks.