Insulet Hits New 1-Year Low After Analyst Downgrade (PODD)
Insulet (NASDAQ:PODD)’s share price reached a new 52-week low during mid-day trading on Friday after Canaccord Genuity lowered their price target on the stock from $40.00 to $39.00, American Banking and Market News reports. The stock traded as low as $30.04 and last traded at $35.19, with a volume of 1,191,045 shares changing hands. The stock had previously closed at $35.84.
Separately, 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Insulet currently has an average rating of “Buy” and a consensus target price of $45.33.
In other Insulet news, CEO Duane Desisto sold 20,000 shares of Insulet 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 is available at this link.
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 $1.919 billion.
Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.02. The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $72.94 million. During the same quarter last year, the company posted ($0.20) earnings per share. Insulet’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Insulet will post $-0.16 earnings per share 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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