Healthcare Equipment Stock Climbs on Upgrade

Jefferies noted the stock's attractive valuation following last week's 3-year low

Deputy Editor
Oct 2, 2023 at 9:20 AM
facebook X logo linkedin


The shares of Insulet Corporation (NASDAQ:PODD) are higher before this morning's open, after Jefferies upgraded the medical equipment distributor to "buy" from "hold," with a price-target cut to $240 from $260. At last glance, PODD was 4% to trade at $165.95. 

The shares took a fall recently, amid fears that the strong weight-loss drug market would hurt the insulin pump maker's business. The analyst in coverage at Jefferies sees an attractive point of entry for Insulet stock, however, noting that the "diabetes market remains large and underpenetrated." 

Since the start of 2023, PODD is down 45.8%, marking a Sept. 26 three-year low of $152.43 just last week, guided lower by its 20-day moving average. Should these premarket gains hold, the equity will still hover just below this trendline. A short-term bounce could be in the cards though, per the stock's 14-day relative strength index (RSI) of 27.2, which lingers in "oversold" territory. 

Of the 20 analysts in coverage, 14 carry a "buy" or better rating, with six a tepid "hold," while the 12-month consensus price target of $278.88 sits a hefty 74.9% premium to current levels. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI