Insulet (NASDAQ:PODD) Downgraded by Zacks Investment Research to “Hold”

Insulet (NASDAQ:PODD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, November 11th.

According to Zacks, “INSULET CORPORATION is an innovative medical device company dedicated to improving the lives of people with diabetes. The Company’s OmniPod Insulin Management System is a revolutionary, discreet and easy-to-use insulin infusion system that features two easy-to-use components with no tubing and fully-automated cannula insertion. Through the OmniPod System, Insulet seeks to expand the use of continuous subcutaneous insulin infusion (CSII) therapy among people with insulin-dependent diabetes. “

Other equities analysts also recently issued research reports about the company. Cowen reiterated a “buy” rating and issued a $52.00 target price on shares of Insulet in a report on Friday, July 14th. Jefferies Group restated a “buy” rating and issued a $48.00 price objective on shares of Insulet in a report on Friday, July 14th. BidaskClub downgraded Insulet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Northland Securities restated a “buy” rating on shares of Insulet in a report on Friday, August 4th. Finally, Wedbush restated a “buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Insulet in a report on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $61.07.

Shares of Insulet (NASDAQ:PODD) traded up $0.59 on Friday, hitting $71.73. The stock had a trading volume of 508,659 shares, compared to its average volume of 503,267. Insulet has a one year low of $32.12 and a one year high of $72.99. The company has a debt-to-equity ratio of 4.65, a quick ratio of 4.42 and a current ratio of 4.88.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. sell-side analysts expect that Insulet will post -0.42 EPS for the current fiscal year.

In related news, EVP Charles Alpuche bought 2,500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $58.08 per share, with a total value of $145,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Insulet by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after acquiring an additional 235 shares during the period. SG Americas Securities LLC bought a new stake in shares of Insulet in the second quarter valued at approximately $180,000. Diversified Trust Co bought a new stake in shares of Insulet in the second quarter valued at approximately $205,000. Wrapmanager Inc. bought a new stake in shares of Insulet in the second quarter valued at approximately $217,000. Finally, RNC Capital Management LLC bought a new stake in shares of Insulet in the second quarter valued at approximately $225,000.

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About Insulet

Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).

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