Oppenheimer Reiterates Outperform on Insulet
Oppenheimer maintains its Outpeform rating on Insulet (NASDAQ: PODD) as the company gets closers to approval for its next generation OmniPod.
Oppenheimer notes, "PODD received a phone call last week from the FDA with clarifying Qs on PODD's 11/21 response submission; management's tone suggests the clarifications were not onerous. Meanwhile, the first production line is up and running in China, and finished product is on hand. Assuming approval in the next few months, PODD looks to formally launch its next-generation OmniPod at ADA (June), ramp 3 production lines for total output of 750K-1M pods/month and convert its entire Gen1 installed base by '12-end. As a reminder, Gen2 adds 10-15 points to GM. We should start to see GM benefits visualize after a quarter in launch."
PODD closed at $18.16 a share on Tuesday.
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