Insulet (PODD) Downgraded by BidaskClub to “Buy”

BidaskClub lowered shares of Insulet (NASDAQ:PODD) from a strong-buy rating to a buy rating in a report released on Tuesday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Insulet from a hold rating to a strong-buy rating and set a $101.00 price objective for the company in a research note on Tuesday, July 24th. BMO Capital Markets boosted their price objective on shares of Insulet to $115.00 and gave the stock a top pick rating in a research note on Tuesday, July 10th. Jefferies Financial Group restated a buy rating and issued a $97.00 price objective on shares of Insulet in a research note on Friday, August 3rd. Oppenheimer set a $96.00 price objective on shares of Insulet and gave the stock a hold rating in a research note on Friday, August 3rd. Finally, Piper Jaffray Companies boosted their price objective on shares of Insulet to $106.00 and gave the stock an overweight rating in a research note on Monday, June 4th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $95.24.

Shares of Insulet stock opened at $105.34 on Tuesday. The company has a quick ratio of 5.01, a current ratio of 5.54 and a debt-to-equity ratio of 3.22. Insulet has a 1-year low of $54.55 and a 1-year high of $108.90.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 2nd. The medical instruments supplier reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.10. Insulet had a negative net margin of 3.47% and a negative return on equity of 11.91%. The business had revenue of $124.26 million during the quarter, compared to analysts’ expectations of $132.89 million. During the same period in the previous year, the company earned ($0.13) earnings per share. Insulet’s revenue for the quarter was up 13.2% on a year-over-year basis. research analysts anticipate that Insulet will post -0.09 EPS for the current year.

In related news, EVP Aiman Abdel-Malek sold 602 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $107.99, for a total transaction of $65,009.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael P. Spears sold 5,043 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $86.08, for a total transaction of $434,101.44. The disclosure for this sale can be found here. Insiders have sold 7,207 shares of company stock worth $651,334 in the last ninety days. 3.60% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in PODD. FMR LLC increased its holdings in Insulet by 0.6% in the 2nd quarter. FMR LLC now owns 8,740,881 shares of the medical instruments supplier’s stock valued at $749,093,000 after buying an additional 52,946 shares during the period. Lord Abbett & CO. LLC increased its holdings in Insulet by 2.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,208,861 shares of the medical instruments supplier’s stock valued at $104,784,000 after buying an additional 34,025 shares during the period. OppenheimerFunds Inc. increased its holdings in Insulet by 26.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 791,702 shares of the medical instruments supplier’s stock valued at $67,848,000 after buying an additional 166,585 shares during the period. Millennium Management LLC increased its holdings in Insulet by 87.4% in the 2nd quarter. Millennium Management LLC now owns 532,109 shares of the medical instruments supplier’s stock valued at $45,602,000 after buying an additional 248,108 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Insulet by 4.8% in the 2nd quarter. Victory Capital Management Inc. now owns 459,740 shares of the medical instruments supplier’s stock valued at $39,400,000 after buying an additional 21,170 shares during the period.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.

Read More: Understanding Analyst Recommendations

Analyst Recommendations for Insulet (NASDAQ:PODD)

Receive News & Ratings for Insulet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply