Barrington Reiterates OUTPERFORM Rating on Insulet
Barrington Research has reiterated their OUTPERFORM rating on Insulet Corp (NASDAQ: PODD) and a $23/share price target due to what is seen as great revenue potential with the upcoming launch of OmniPod's new generation of the insulin pump.
According to Barrington Research, "PODD grew revenue 75% to $44.6 million, versus $25.5 million in Q3/10, slightly below both our estimate, and the consensus, of $45.0 million. PODD's net loss increased to $13.6 million, or ($0.29) per share, from $12.1 million, or ($0.30) per share in Q3/10. The increase in the net loss is primarily a result of acquisition expenses from Neighborhood Diabetes. PODD ended Q3/11 with $103.8 million in cash."
Barrington Resarch anticipates Insulet Corp will see dramatic market share gains as the company comntinues to penetrate international markets. As of close on Friday, Nov. 4, PODD was trading at $17/share, up $2.15 per share (or 14.5 percent).
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