Insulet Earnings: New Integrations with G7 and Apple Phones Should Drive Growth and Fend Off Rivals

Insulet posted strong first-quarter results that generally met our expectations, and we’re holding steady on our fair value estimate. With this fast start to 2024, management has raised its outlook, and now our projections, which had previously extended beyond guidance, fall near the top end of management’s new range. We remain confident in Insulet’s narrow moat, which is supported by intangible assets. While quality of operations isn’t a generally a factor in how we assess durable moat sources, operations is a major strength of Insulet, in our view.