Insulet (PODD) and UnitedHealth (UNH) announced yesterday afternoon an in-network contract for Omnipod which goes into effect April 1, Piper Jaffray analyst JP McKim tells investors in a research note. Omnipod is Insulet’s tubeless insulin pump to monitor type 1 diabetes. The agreement affects commercial and Medicaid lives, the analyst points out. He views the news as a “nice win” for Insulet and expects the shares to react favorably. McKim continues to recommend Insulet with an Overweight rating and sees the stock pushing towards his $88 price target. The shares closed Friday up 67c to $80.33.
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