Insulet initiated with an Outperform at Bernstein

Bernstein initiated coverage of Insulet (PODD) with an Outperform rating and $300 price target Innovation is driving accelerated insulin pump market growth, and Insulet “has a strong moat around the winning form factor,” and the type 2 opportunity should drive significant upside to estimates, the analyst tells investors in a research note. The firm says Insulet has a “strong moat” around the tubeless patch pump form factor, which consistently wins the lion’s share of new pump starts and continues to accumulate user share.