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Investing.com - Canaccord Genuity raised its price target on Insulet Corporation (NASDAQ:PODD) to $353.00 from $331.00 on Thursday, while maintaining a Buy rating following the company’s strong second-quarter performance. The stock, currently trading at $303.55, is approaching its 52-week high of $329.33, according to InvestingPro data.
The medical device maker beat revenue estimates across all segments and raised its guidance for fiscal year 2025, with growth expected across all markets and patient populations. Insulet reported mid-20% underlying growth in the quarter, maintaining its impressive 23.49% year-over-year revenue growth and industry-leading 70.39% gross margin. The company saw increased new patient starts in both U.S. Type 1 and Type 2 diabetes markets, as well as international markets.
The company achieved over 80% multiple daily injection conversion rate, with approximately one-third of new patient starts coming from Type 2 diabetes patients. While Canaccord noted investor concerns about longer-term adjusted operating margins, InvestingPro analysis shows the company maintains strong financial health with a "GREAT" overall score and robust liquidity, evidenced by a current ratio of 4.47.
Canaccord highlighted Insulet’s differentiated Omnipod product and its suitability for the pharmacy channel as key advantages, particularly for reaching Type 2 diabetes patients. The firm also noted that while international business growth included significant pricing benefits (approximately 1,200 basis points) and foreign exchange benefits (620 basis points), volume opportunity should sustain growth.
Insulet plans to hold an Investor Day on November 20, where management is expected to provide more details on its pipeline and long-term gross margin and operating margin expansion plans. For deeper insights into Insulet’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, along with 12 additional ProTips available on InvestingPro.
In other recent news, Insulet Corporation reported impressive second-quarter results for 2025, significantly surpassing both earnings and revenue forecasts. The company achieved earnings per share of $1.17, exceeding the projected $0.92, which marked a 27.17% surprise. Revenue reached $649 million, outperforming expectations of $614.18 million and reflecting a 31% year-over-year growth. Jefferies responded to these strong results by raising its price target for Insulet to $375 from $360, maintaining a Buy rating. These developments highlight the company’s robust financial performance and positive market reception. The revenue growth was noted to be 31% when excluding foreign exchange effects, further emphasizing the company’s strong market position. Analysts had initially estimated sales at $614 million, which Insulet exceeded by a significant margin. These recent developments underscore Insulet’s successful quarter and positive outlook from financial analysts.
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