Insulet last night reported Q4 results that beat expectations but management issued 2020 guidance that was a bit below the Street, "which will likely take this high multiple name down" today, Piper Sandler analyst Matt O'Brien tells investors in a post-earnings research note. The analyst, however, believes management is factoring in some minor competitive dynamics that could weigh slightly on the business this year. They are following their usual conservative tactic when it comes to initial full year guidance, says O'Brien. Further, Insulet is on track to introduce its new Horizon technology, which is a "game changer" heading into 2021 and beyond, he adds. As such, the analyst would take advantage of any weakness in the stock and reiterates an Overweight rating on the name with a $200 price target.