Oppenheimer Holdings Reiterates Outperform Rating, $24 PT for Insulet Corporation

In a company update published earlier today, Oppenheimer Holdings reiterated its Outperform rating and $24.00 price target for Insulet Corporation PODD. Oppenheimer went on to say “Our recent meetings with PODD management focused on near-term drivers and longer-term call options. The recent back and forth with the FDA on Eros suggests approval is close. Eros rollout in the US, the now ramping European business, sales force adds and Neighborhood Diabetes synergies, we believe will accelerate sales growth in '13. Looking beyond '13, management is speaking more openly of new large opportunities for the platform including China, Type II, and oncology drug delivery. We expect to get visibility on each over the next 6-12 months. We up our price target to $24 based on recent appreciation of the small-cap medtech peer group. The longerterm platform opportunities are not reflected in our estimates/valuation.” Insulet Corporation closed yesterday at $20.41.