It’s time to buy into shares of Insulet , according to RBC Capital Markets. Analyst Shagun Singh initiated coverage of the medtech company with an outperform rating, saying its differentiated patch automated insulin delivery product is the only one on the market, giving the company a first-mover advantage. “Insulet is at the forefront of innovation in the automatic insulin delivery (AID) pump market,” Singh wrote Wednesday. “Its proprietary Omnipod systems (Omnipod 5, Omnipod DASH, OmniPod GO) have transformed the experience of insulin-dependent diabetes management by shifting people from multiple daily injections (MDIs) as well as insulin pens and tubed insulin pumps.” PODD 1D mountain Insulet Insulet shares have outpaced the broader market, jumping 65% over the past 12 months and more than 3% to start 2025. However, the analyst expects further upside from here. Singh’s $340 price target implies more than 25% upside from Wednesday’s close of $270.81. In the Thursday premarket, Insulet shares were down slightly. The outperform rating reflects in part Insulet’s large total addressable market of 14 million patients that is as of yet underutilized, read the note. The analyst projects greater than 26% earnings per share growth over the next three years. The company has another major catalyst as it begins to tap into the Type 2 diabetes market, a global market of nine million patients, where Insulet recently received the green light from the U.S. Food and Drug Administration. “Checks suggest PODD’s Omnipod 5 AID System is unique positioned to drive continued adoption,” Singh wrote. “Omnipod 5 is the first AID system cleared for both Type 1 (Jan’22) and Type 2 (Aug’24) patients in the U.S. It is the only tubeless/patch pump offered via the pharmacy channel, poised to drive significant uptake and margin benefit over peers.” Analysts are generally bullish on the stock. LSEG data shows that 20 of 24 analysts who cover Insulet rate it a buy or strong buy. The average price target signals more than 16% upside ahead.
