Insulet initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Insulet (PODD) with a Buy rating and $380 price target as part of a broader research note launching coverage on Diabetes Medical Technology. Diabetes technology is poised to sustain double-digit growth, and Insulet stands to benefit from accelerating adoption of patch pump technology with the company being the only participant in the category today, the analyst tells investors in a research note. The company’s pipeline also offers the potential to further strengthen its relative position, while its sustained top-line growth should support outsized adjusted EBITDA results, Goldman Sachs added.