Zacks Investment Research downgraded shares of Insulet Corporation (NASDAQ:PODD) from a buy rating to a hold rating in a report published 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. “
A number of other analysts also recently weighed in on the company. Morgan Stanley increased their price target on Insulet Corporation from $55.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, November 3rd. Jefferies Group LLC increased their price target on Insulet Corporation from $58.00 to $67.00 and gave the stock a buy rating in a report on Friday, November 3rd. Robert W. Baird increased 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. Canaccord Genuity raised shares of Insulet Corporation from a hold rating to a buy rating and increased their price objective for the stock from $50.00 to $65.00 in a research report on Wednesday, November 1st. Finally, Leerink Swann reissued an outperform rating and set a $74.00 price objective (up previously from $65.00) on shares of Insulet Corporation in a research report on Thursday, October 12th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $58.87.
Shares of Insulet Corporation (NASDAQ PODD) traded up $0.18 during trading on Friday, reaching $67.78. The company’s stock had a trading volume of 549,300 shares, compared to its average volume of 896,126. The company has a debt-to-equity ratio of 4.65, a current ratio of 4.88 and a quick ratio of 6.35. Insulet Corporation has a 52-week low of $32.12 and a 52-week high of $72.26.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. Insulet Corporation had a negative return on equity of 43.85% and a negative net margin of 6.66%. The firm had revenue of $121.80 million during the quarter, compared to the consensus estimate of $114.02 million. During the same period last year, the business posted ($0.05) EPS. The business’s revenue was up 28.4% compared to the same quarter last year. sell-side analysts forecast that Insulet Corporation will post -0.42 earnings per share for the current year.
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In other news, EVP Charles Alpuche bought 2,500 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of PODD. BlackRock Inc. lifted its position in shares of Insulet Corporation by 7,285.2% during 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. Janus Henderson Group PLC purchased a new stake in shares of Insulet Corporation during the 2nd quarter worth approximately $27,428,000. JPMorgan Chase & Co. increased its stake in shares of Insulet Corporation by 104.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 611,595 shares of the medical instruments supplier’s stock worth $34,035,000 after purchasing an additional 313,093 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Insulet Corporation by 29.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after purchasing an additional 191,217 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Insulet Corporation by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock worth $196,355,000 after purchasing an additional 184,465 shares during the last quarter.
About Insulet Corporation
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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