In a report released today, Travis Steed from Bank of America Securities maintained a Buy rating on Insulet, with a price target of $360.00.
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Travis Steed has given his Buy rating due to a combination of factors including Insulet’s strategic plans and growth potential. The company is expected to present ambitious three-year revenue, margin, and EPS targets at its upcoming Investor Day, which are likely to align with or exceed market expectations. This is significant given Insulet’s current valuation metrics, such as a 7x sales multiple and a 50x PE ratio.
Additionally, Insulet’s substantial investment in research and development, amounting to $1 billion over the past five years, indicates a strong commitment to innovation and product development. The company’s plans to expand its patient base, increase market penetration, and globalize its operations further support the positive outlook. Insulet’s leading position in the U.S. market and its growth opportunities in international and Type 2 diabetes markets also contribute to the optimistic forecast, making it a compelling investment opportunity.
In another report released on November 7, Truist Financial also reiterated a Buy rating on the stock with a $390.00 price target.