Insulet price target lowered to $250 from $270 at BTIG

BTIG analyst Marie Thibault lowered the firm’s price target on Insulet to $250 from $270 and keeps a Buy rating on the shares. The company’s Q2 revenue topped consensus at the time of its positive pre-announcement last month, with the beat coming from all business segments and was attributed to strong O5 demand that drove sequential increases in new customer starts both in the U.S. and internationally, the analyst tells investors in a research note. Despite the good result however, investors were distracted by softer commentary on new U.S. patient starts, which are still expected to grow sequentially and y/y in each Q3 and Q4, but “may or may not grow” for the full year, the firm added.