Wunderlich Securities Reiterates Buy, $22 Target on Insulet Corporation

Wunderlich Securities maintains its Buy rating and $22 target price on Insulet Corporation

as the company's fourth quarter results beat estimates slightly. Wunderlich Securities says, "Insulet Corp. (

) reported Q4 revenues of $47.2 million, up 70% yr./yr. and above our estimate of $46.4mm. A GAAP loss of $0.30 per share for Q4 was $0.01 below our estimate. All told, we view the results as pretty much a non-event. Of greater interest to investors, management reiterated its belief that FDA approval of the next-generation OmniPod could occur by the end of Q1. On the guidance front, 2012 revenue guidance is slightly below our prior estimate, but in line with where we thought PODD would set the bar. We continue to believe that near-term approval of the new OmniPod will drive strong share gains and substantial margin improvement." PODD closed at $19.88 a share on Thursday.