Insulet Co. (NASDAQ:PODD) – Equities researchers at Jefferies Financial Group boosted their Q4 2019 earnings per share (EPS) estimates for Insulet in a research report issued to clients and investors on Tuesday, November 5th. Jefferies Financial Group analyst R. Denhoy now forecasts that the medical instruments supplier will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.06. Jefferies Financial Group currently has a “Buy” rating and a $140.00 target price on the stock. Jefferies Financial Group also issued estimates for Insulet’s Q1 2020 earnings at $0.07 EPS, Q2 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.36 EPS, FY2020 earnings at $0.88 EPS and FY2021 earnings at $1.95 EPS.
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Insulet from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Canaccord Genuity downgraded shares of Insulet from a “buy” rating to a “hold” rating and lifted their price target for the company from $135.00 to $145.00 in a research note on Friday, October 18th. Robert W. Baird lifted their price target on shares of Insulet from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group downgraded shares of Insulet from a “buy” rating to a “neutral” rating and lifted their price target for the company from $155.00 to $160.00 in a research note on Friday, October 4th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $151.71.
Insulet (NASDAQ:PODD) last issued its earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Insulet had a net margin of 2.38% and a return on equity of 9.46%. The company had revenue of $192.12 million during the quarter, compared to analyst estimates of $179.50 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis.
In other news, CEO Shacey Petrovic sold 649 shares of Insulet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $152.40, for a total transaction of $98,907.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael P. Spears sold 4,153 shares of Insulet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.12, for a total transaction of $606,836.36. Following the transaction, the senior vice president now owns 22,626 shares of the company’s stock, valued at $3,306,111.12. The disclosure for this sale can be found here. Insiders have sold 5,491 shares of company stock valued at $806,124 over the last quarter. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PODD. Cortina Asset Management LLC grew its holdings in shares of Insulet by 5.4% during the second quarter. Cortina Asset Management LLC now owns 2,447 shares of the medical instruments supplier’s stock valued at $292,000 after buying an additional 126 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in Insulet by 21.4% during the second quarter. Harbour Capital Advisors LLC now owns 6,489 shares of the medical instruments supplier’s stock worth $775,000 after purchasing an additional 1,144 shares during the last quarter. HMS Capital Management LLC purchased a new position in Insulet during the second quarter worth about $195,000. First Hawaiian Bank boosted its holdings in Insulet by 2,758.3% during the second quarter. First Hawaiian Bank now owns 1,715 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Gradient Investments LLC boosted its holdings in Insulet by 68.1% during the second quarter. Gradient Investments LLC now owns 10,620 shares of the medical instruments supplier’s stock worth $1,268,000 after purchasing an additional 4,304 shares during the last quarter.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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