Insulet Corp. Now Covered by Benchmark Co. (PODD)
Stock analysts at Benchmark Co. began coverage on shares of Insulet Corp. (NASDAQ:PODD) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $44.00 price target on the stock. Benchmark Co.’s target price points to a potential upside of 24.47% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Insulet with a Buy rating and $44 price target. Our view is supported by the strong response to the new OmniPod, which we believe will drive continued growth. Inventory was tight while the company was running one manufacturing line, but the third line is now active and should allow the company to rebuild inventory and provide for the remainder of the no-cost conversion for existing patients. We believe that greater customer retention, better market penetration as evidenced by new prescribers and improved margins from the new OmniPod insulin pump should drive upside in the shares.”
PODD has been the subject of a number of other recent research reports. Analysts at Ned Davis Research initiated coverage on shares of Insulet Corp. in a research note to investors on Monday, October 7th. They set a “neutral” rating on the stock. Separately, analysts at JMP Securities downgraded shares of Insulet Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, September 20th. They now have a $33.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Insulet Corp. from $29.00 to $38.00 in a research note to investors on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Insulet Corp. presently has a consensus rating of “Hold” and a consensus target price of $31.71.
Shares of Insulet Corp. (NASDAQ:PODD) traded down 1.63% during mid-day trading on Tuesday, hitting $35.35. The stock had a trading volume of 281,223 shares. Insulet Corp. has a 52 week low of $18.50 and a 52 week high of $38.27. The stock’s 50-day moving average is $35.55 and its 200-day moving average is $31.33. The company’s market cap is $1.924 billion.
Insulet Corp. (NASDAQ:PODD) last released its earnings data on Wednesday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.01. The company had revenue of $60.09 million for the quarter, compared to the consensus estimate of $60.47 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts expect that Insulet Corp. will post $-0.63 EPS for the current fiscal year.
Insulet Corporation is primarily engaged in the development, manufacturing and sale of its OmniPod Insulin Management System (NASDAQ:PODD).
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