Analyst firm lowers PODD target amid sector-wide MedTech trends while company expands Omnipod 5 in Spain.
Evercore ISI reduced its price target on Insulet Corporation (NASDAQ:PODD) to $180 from $200, maintaining an Outperform rating. The adjustment was part of the firm’s second-quarter preview for MedTech, Life Sciences Tools, and Diagnostics sectors.
The firm noted positive industry trends, including healthy procedure volumes and capital expenditure activity. Insulet also announced the launch of its Omnipod 5 Automated Insulin Delivery System and Omnipod Discover platform in Spain, expanding its global footprint to 26 countries.
Insulet remains focused on broadening access to its automated insulin delivery technology, with Spain marking its 20th market for Omnipod 5.