UPDATE: Canaccord Genuity Reiterates Buy Rating, Lowers PT on Insulet Corporation Ahead of 4Q12 Results
In a report published Friday, Canaccord Genuity reiterated its Buy rating on Insulet Corporation (NASDAQ: PODD), but slightly lowered its price target from $29.00 to $28.00.
Canaccord Genuity noted, “We are fine-tuning our model heading into the Q4/12 results to account for the expected impact of competitive bidding on Insulet's Neighborhood Diabetes (NDI) supplies business. Specifically, given management's commentary about the expected impact on its Medicare business, we have conservatively removed all revenues that could be impacted by competitive bidding from our estimates.”
Insulet Corporation closed on Thursday at $21.18.
Latest Ratings for PODD
|Jan 2015||Leerink Swann||Maintains||Outperform|
|Jan 2015||JP Morgan||Downgrades||Overweight||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.