Analyst Josh Jennings from TD Cowen maintained a Buy rating on Insulet (PODD – Research Report) and keeping the price target at $324.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Insulet’s strong financial performance and promising future outlook. The company reported impressive first-quarter results, with revenue and earnings per share surpassing market expectations. This strong performance was driven by significant growth in both U.S. and international markets, particularly in the Omnipod segment, which saw substantial revenue increases.
Furthermore, Insulet has raised its full-year guidance for revenue growth and gross margins, indicating confidence in its ongoing business momentum. The company expects continued expansion in the Type 1 diabetes market and a ramp-up in Type 2 diabetes, supported by the strategic leadership of its new CEO. These positive developments, along with better-than-expected guidance for the upcoming quarters, underpin Jennings’s optimistic outlook on the stock.
Jennings covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Establishment Labs Holdings, and Johnson & Johnson. According to TipRanks, Jennings has an average return of 2.2% and a 50.10% success rate on recommended stocks.
In another report released on April 28, Wells Fargo also maintained a Buy rating on the stock with a $322.00 price target.
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