Insulet (PODD) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Insulet (NASDAQ:PODD) released its earnings data on Thursday. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.02, AnalystRatings.NET reports. The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $72.94 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis.
Insulet (NASDAQ:PODD) traded up 1.27% on Thursday, hitting $35.84. 699,818 shares of the company’s stock traded hands. Insulet has a 52 week low of $31.25 and a 52 week high of $51.31. The stock has a 50-day moving average of $37.74 and a 200-day moving average of $40.90. The company’s market cap is $1.986 billion.
PODD has been the subject of a number of recent research reports. Analysts at Barrington Research upgraded shares of Insulet from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $40.00 price target on the stock. On a related note, analysts at Jefferies Group cut their price target on shares of Insulet from $60.00 to $50.00 in a research note on Friday, May 9th. Finally, analysts at Leerink Swann cut their price target on shares of Insulet from $55.00 to $45.00 in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.44.
In other Insulet news, CEO Duane Desisto sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $34.23, for a total value of $684,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Insulet Corporation is primarily engaged in the development, manufacturing and sale of its OmniPod Insulin Management System (NASDAQ:PODD).
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