J.P. Morgan Reiterates Overweight Rating, $26 PT on Insulet Corporation on Updated Estimates
In a report published Friday, J.P. Morgan reiterated its Overweight rating and $26.00 price target on Insulet Corporation (NASDAQ: PODD).
J.P. Morgan noted, “Insulet manufactures the OmniPod insulin pump system, which is a wireless, tubing-free alternative to traditional pump therapy primarily targeting Type I diabetics. We view Insulet as uniquely positioned with a differentiated offering in an under-penetrated market. Awareness of the OmniPod system continues to increase, with revenues projected to grow over 20% through 2015. Insulet recently received approval for the company's next-generation Pod, which is 30% smaller and 25% lighter, which should drive continued sales growth along with margin expansion over the next several years.”
Insulet Corporation closed on Thursday at $21.61.
Latest Ratings for PODD
|Nov 2015||Morgan Stanley||Initiates Coverage on||Equal-weight|
|Aug 2015||Piper Jaffray||Maintains||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.