Patrick Wood, an analyst from Morgan Stanley, maintained the Buy rating on Insulet (PODD – Research Report). The associated price target remains the same with $325.00.
Patrick Wood has given his Buy rating due to a combination of factors that suggest potential growth for Insulet. Despite the unexpected leadership change with Jim Hollingshead stepping down and Ashley McEvoy taking over, the company’s recent performance has been strong, particularly as it approaches a significant expansion in the type 2 diabetes market.
The transition, while sudden, was reportedly planned over some time and is described as mutual, which may help mitigate concerns. Additionally, the company’s encouraging Q1 pre-announcement and the anticipated guidance update for 2025 are positive indicators that could reassure investors. Although the market may react with some volatility due to the surprise announcement and the cancellation of the Investor Day, these developments are understandable in the broader context of the company’s strategic direction.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $324.00 price target.