Insulet Corp. Price Target Cut to $40.00 by Analysts at Canaccord Genuity (PODD)
Equities researchers at Canaccord Genuity lowered their target price on shares of Insulet Corp. (NASDAQ:PODD) from $53.00 to $40.00 in a research report issued on Thursday, AR Network reports. Canaccord Genuity’s price objective suggests a potential upside of 13.03% from the stock’s previous close.
Insulet Corp. (NASDAQ:PODD) opened at 35.39 on Thursday. Insulet Corp. has a 52-week low of $27.87 and a 52-week high of $51.31. The stock’s 50-day moving average is $43.41 and its 200-day moving average is $41.09. The company’s market cap is $1.949 billion.
Insulet Corp. (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.05. The company had revenue of $69.20 million for the quarter, compared to the consensus estimate of $68.47 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. Analysts expect that Insulet Corp. will post $-0.05 EPS for the current fiscal year.
A number of other firms have also recently commented on PODD. Analysts at Ned Davis Research upgraded shares of Insulet Corp. from a “sell” rating to a “neutral” rating in a research note on Monday, April 28th. Separately, analysts at Jefferies Group raised their price target on shares of Insulet Corp. from $55.00 to $60.00 in a research note on Friday, March 28th. Finally, analysts at Sterne Agee initiated coverage on shares of Insulet Corp. in a research note on Thursday, March 20th. They set a “buy” rating and a $61.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.66.
Insulet Corporation is primarily engaged in the development, manufacturing and sale of its OmniPod Insulin Management System (NASDAQ:PODD).
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