Truist analyst Richard Newitter initiated coverage of Insulet (PODD) with a Buy rating and $365 price target Truist expects Insulet’s Omnipod 5 will remain the only true tubeless and fully disposable patch pump for the forseeable future, which should allow Insulet to maintain a market leadership patch pump position within the growing Type 1 and Type 2 diabetes markets even if/when competitor patch designs begin coming to market over the next few years, the analyst tells investors in a research note. The firm sees multiple durable drivers to support a high teens+ revenue growth trajectory through 2028.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PODD:
- Insulet announces Omnipod 5 App for iPhone is compatible with Dexcom G7 CGM
- Insulet Issues Redemption Notice for Convertible Notes
- Insulet price target raised to $379 from $324 at TD Cowen
- Winners and Losers: Energy Stocks Soared and Healthcare Crashed in May
- Insulet initiated with a Buy at Goldman Sachs