BidaskClub upgraded shares of Insulet (NASDAQ:PODD) from a hold rating to a buy rating in a research report sent to investors on Friday, March 9th.
Several other analysts also recently weighed in on PODD. Zacks Investment Research downgraded Insulet from a buy rating to a hold rating in a research report on Saturday, November 11th. Barclays lifted their target price on Insulet from $70.00 to $75.00 and gave the stock an overweight rating in a research report on Monday, November 20th. UBS upgraded Insulet from a market perform rating to an outperform rating in a research report on Monday, January 8th. Raymond James Financial upgraded Insulet from a market perform rating to an outperform rating and set a $80.00 price target on the stock in a research note on Monday, January 8th. Finally, Stephens restated an equal weight rating and set a $81.00 price target (up previously from $60.00) on shares of Insulet in a research note on Thursday, February 22nd. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $73.24.
PODD traded down $1.68 during trading on Friday, reaching $85.00. The company had a trading volume of 653,690 shares, compared to its average volume of 525,351. The company has a market cap of $5,061.33, a PE ratio of -187.07 and a beta of 1.37. Insulet has a 52 week low of $38.43 and a 52 week high of $88.88. The company has a quick ratio of 5.85, a current ratio of 6.24 and a debt-to-equity ratio of 3.57.
Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). The company had revenue of $130.50 million during the quarter, compared to the consensus estimate of $125.16 million. Insulet had a negative return on equity of 29.73% and a negative net margin of 5.79%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. research analysts anticipate that Insulet will post -0.29 earnings per share for the current fiscal year.
In related news, EVP Bradley A. Thomas sold 7,250 shares of Insulet stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $83.81, for a total transaction of $607,622.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Fallon sold 9,000 shares of Insulet stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $84.10, for a total value of $756,900.00. The disclosure for this sale can be found here. Insiders have sold 28,800 shares of company stock worth $2,412,739 in the last 90 days. Insiders own 2.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC lifted its holdings in shares of Insulet by 30.0% during the fourth quarter. Virtus Fund Advisers LLC now owns 4,244 shares of the medical instruments supplier’s stock worth $293,000 after purchasing an additional 980 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Insulet by 42.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,283 shares of the medical instruments supplier’s stock valued at $227,000 after acquiring an additional 981 shares during the period. Russell Investments Group Ltd. lifted its holdings in Insulet by 3.9% in the third quarter. Russell Investments Group Ltd. now owns 30,200 shares of the medical instruments supplier’s stock valued at $1,662,000 after acquiring an additional 1,146 shares during the period. First Mercantile Trust Co. lifted its holdings in Insulet by 8.4% in the fourth quarter. First Mercantile Trust Co. now owns 14,840 shares of the medical instruments supplier’s stock valued at $1,024,000 after acquiring an additional 1,150 shares during the period. Finally, Strs Ohio lifted its holdings in Insulet by 17.1% in the fourth quarter. Strs Ohio now owns 8,200 shares of the medical instruments supplier’s stock valued at $565,000 after acquiring an additional 1,200 shares during the period.
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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.
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