Zacks Investment Research lowered shares of Insulet Corporation (NASDAQ:PODD) from a buy rating to a hold rating in a report released on Saturday morning.
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. “
Several other brokerages have also commented on PODD. Morgan Stanley lifted their price objective on shares of Insulet Corporation from $55.00 to $63.00 and gave the stock an equal weight rating in a research report on Friday, November 3rd. Robert W. Baird lifted their price objective on shares of Insulet Corporation from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Jefferies Group LLC lifted their price objective on shares of Insulet Corporation from $58.00 to $67.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Leerink Swann reaffirmed an outperform rating and issued a $74.00 price objective (up previously from $65.00) on shares of Insulet Corporation in a research report on Thursday, October 12th. Finally, Barclays PLC assumed coverage on shares of Insulet Corporation in a research report on Friday, September 15th. They issued an overweight rating and a $65.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Insulet Corporation currently has an average rating of Buy and an average target price of $58.87.
Shares of Insulet Corporation (NASDAQ PODD) opened at $67.42 on Friday. The company has a debt-to-equity ratio of 4.65, a current ratio of 4.88 and a quick ratio of 4.42. Insulet Corporation has a 12-month low of $32.12 and a 12-month high of $72.26.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. The business had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. Insulet Corporation had a negative net margin of 6.66% and a negative return on equity of 43.85%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. sell-side analysts forecast that Insulet Corporation will post -0.42 EPS for the current year.
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In other news, Director James C. Mullen acquired 2,500 shares of Insulet Corporation stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $67.45 per share, with a total value of $168,625.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of PODD. Principal Financial Group Inc. grew its stake in Insulet Corporation by 1.1% during the first quarter. Principal Financial Group Inc. now owns 8,171 shares of the medical instruments supplier’s stock valued at $352,000 after acquiring an additional 92 shares in the last quarter. Vanguard Group Inc. grew its stake in Insulet Corporation by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock worth $196,355,000 after buying an additional 184,465 shares in the last quarter. Renaissance Technologies LLC grew its stake in Insulet Corporation by 17.1% in the 1st quarter. Renaissance Technologies LLC now owns 148,700 shares of the medical instruments supplier’s stock worth $6,407,000 after buying an additional 21,700 shares in the last quarter. BlackRock Inc. grew its stake in Insulet Corporation by 7,285.2% in the 1st quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock worth $180,724,000 after buying an additional 4,137,326 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Insulet Corporation by 11.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 244,271 shares of the medical instruments supplier’s stock worth $10,526,000 after buying an additional 25,241 shares in the last quarter.
Insulet Corporation Company Profile
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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