Leerink Partners analyst Mike Kratky reiterated a Buy rating on Insulet (PODD – Research Report) on February 20 and set a price target of $314.00.
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Mike Kratky has given his Buy rating due to a combination of factors influencing Insulet’s strong market position and growth potential. The company reported a better-than-expected performance in the fourth quarter of 2024, with worldwide sales beating consensus by 3%. This was supported by robust new customer starts, particularly in the Type 2 diabetes segment, highlighting a largely untapped market opportunity where Insulet holds a first-to-market advantage.
Furthermore, Insulet’s fiscal year 2025 guidance indicates promising growth, with worldwide sales expected to increase by 16-20%, aligning with market expectations. The growth is driven by both US and international Omnipod sales, projected to rise significantly. Additionally, the company’s gross margin guidance aligns with consensus, suggesting an improving profitability profile. These factors contribute to Kratky’s confidence in Insulet’s ability to capitalize on its favorable market position and growth prospects.
In another report released on February 21, Raymond James also maintained a Buy rating on the stock with a $328.00 price target.
PODD’s price has also changed dramatically for the past six months – from $182.470 to $288.290, which is a 57.99% increase.