UPDATE: Canaccord Genuity Raises PT on Insulet Following Investor Conference

In a report published Monday, Canaccord Genuity analyst William J. Plovanic reiterated a Buy rating on Insulet PODD, and raised the price target from $28.00 to $37.00.

In the report, Canaccord Genuity noted, “We are reiterating our BUY rating on shares of Insulet. Management has positively commented at recent investor conferences that new patient growth remains robust and supply issues continue to improve with commercialization to existing customers beginning at the end of May. Alternatively, reorder rates are still being disrupted due to the transition to the Gen2 OmniPOD and competitive bidding has started to impact the company's services business. We have adjusted our estimates to reflect these trends and raised our price target accordingly.”

Insulet closed on Friday at $30.84.