Piper Jaffray Companies Reiterates “Overweight” Rating for Insulet (NASDAQ:PODD)

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Piper Jaffray Companies reiterated their overweight rating on shares of Insulet (NASDAQ:PODD) in a report released on Wednesday morning, The Fly reports. Piper Jaffray Companies currently has a $170.00 target price on the medical instruments supplier’s stock, up from their prior target price of $160.00. Piper Jaffray Companies also issued estimates for Insulet’s Q4 2019 earnings at $0.07 EPS, FY2019 earnings at $0.26 EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.25 EPS, FY2020 earnings at $0.70 EPS, Q1 2021 earnings at $0.19 EPS, Q2 2021 earnings at $0.25 EPS, Q3 2021 earnings at $0.40 EPS and FY2021 earnings at $1.23 EPS.

A number of other research firms have also recently commented on PODD. Stifel Nicolaus started coverage on shares of Insulet in a research note on Tuesday, October 22nd. They set a hold rating and a $163.00 price target for the company. ValuEngine cut shares of Insulet from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Canaccord Genuity cut shares of Insulet from a buy rating to a hold rating and lifted their price target for the stock from $135.00 to $145.00 in a research note on Friday, October 18th. Guggenheim cut shares of Insulet from a buy rating to a neutral rating in a research note on Thursday, October 3rd. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Insulet from a buy rating to a hold rating in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $151.71.

Shares of PODD stock traded up $4.59 on Wednesday, hitting $169.46. 1,241,100 shares of the stock traded hands, compared to its average volume of 751,627. Insulet has a 52 week low of $70.80 and a 52 week high of $171.96. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 3,389.20 and a beta of 0.96. The firm has a 50 day simple moving average of $154.75 and a two-hundred day simple moving average of $130.77. The company has a debt-to-equity ratio of 2.43, a current ratio of 4.72 and a quick ratio of 3.91.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Tuesday, November 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Insulet had a return on equity of 9.46% and a net margin of 2.38%. The business had revenue of $192.12 million during the quarter, compared to analysts’ expectations of $179.50 million. During the same period in the previous year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. Sell-side analysts forecast that Insulet will post 0.23 EPS for the current year.

In related 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the senior vice president now owns 22,626 shares of the company’s stock, valued at approximately $3,306,111.12. The disclosure for this sale can be found here. Insiders have sold a total of 5,491 shares of company stock valued at $806,124 in the last quarter. 3.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Insulet by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,284,289 shares of the medical instruments supplier’s stock valued at $630,838,000 after buying an additional 24,197 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Insulet by 8.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,334,135 shares of the medical instruments supplier’s stock valued at $278,649,000 after buying an additional 189,147 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Insulet by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,619,136 shares of the medical instruments supplier’s stock valued at $188,808,000 after buying an additional 88,440 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Insulet during the 2nd quarter valued at about $87,481,000. Finally, Eagle Asset Management Inc. lifted its holdings in Insulet by 86.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 709,266 shares of the medical instruments supplier’s stock valued at $116,979,000 after buying an additional 328,620 shares in the last quarter.

Insulet Company Profile

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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Analyst Recommendations for Insulet (NASDAQ:PODD)

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