Analyst Josh Jennings from TD Cowen maintained a Buy rating on Insulet and keeping the price target at $379.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Insulet’s impressive financial performance and optimistic future projections. The company reported outstanding second-quarter results, with revenue and earnings per share significantly surpassing market expectations. This strong performance was driven by notable growth in both U.S. and international Omnipod sales, as well as a solid increase in drug delivery revenue.
Furthermore, Insulet has raised its full-year guidance for revenue growth and operating margin, reflecting confidence in its continued expansion. The company expects substantial growth in its Omnipod segment, with both U.S. and international markets contributing to this upward trajectory. Despite some anticipated declines in drug delivery revenue, Insulet maintains a robust gross margin target and plans to continue investing in research and development, market development, and demand generation, which supports the positive outlook and Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $375.00 price target.