Insulet Corp. (NASDAQ:PODD) Receives Average Rating of “Buy” from Brokerages
Shares of Insulet Corp. (NASDAQ:PODD) have received an average rating of “Buy” from the seventeen brokerages that are presently covering the stock. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.62.
A number of equities research analysts have commented on the company. B. Riley assumed coverage on Insulet Corp. in a research note on Sunday, October 2nd. They issued a “neutral” rating and a $46.00 price target for the company. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $38.00 price target on shares of Insulet Corp. in a research note on Wednesday, August 17th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $52.00 price target on shares of Insulet Corp. in a research note on Tuesday, August 16th. Zacks Investment Research upgraded Insulet Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, August 9th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $36.00 price target on shares of Insulet Corp. in a research note on Friday, August 5th.
Insulet Corp. (NASDAQ:PODD) traded up 3.02% during midday trading on Monday, hitting $41.07. The company’s stock had a trading volume of 93,507 shares. The company’s 50-day moving average is $42.31 and its 200 day moving average is $35.32. The company’s market cap is $2.35 billion. Insulet Corp. has a one year low of $23.94 and a one year high of $45.60.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/insulet-corp-nasdaqpodd-receives-average-rating-of-buy-from-brokerages.html
Insulet Corp. (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09. The firm earned $87.30 million during the quarter, compared to analysts’ expectations of $81.10 million. Insulet Corp. had a negative return on equity of 137.88% and a negative net margin of 17.68%. The firm’s quarterly revenue was up 44.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) EPS. On average, analysts predict that Insulet Corp. will post ($0.44) EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Insulet Corp. by 112.8% in the second quarter. FMR LLC now owns 6,025,467 shares of the company’s stock valued at $182,210,000 after buying an additional 3,193,967 shares during the last quarter. Banbury Partners LLC raised its stake in shares of Insulet Corp. by 140.4% in the first quarter. Banbury Partners LLC now owns 444,668 shares of the company’s stock worth $14,745,000 after buying an additional 259,700 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Insulet Corp. during the second quarter worth about $5,973,000. Arrowgrass Capital Partners US LP purchased a new stake in shares of Insulet Corp. during the first quarter worth about $5,565,000. Finally, Daruma Capital Management LLC raised its stake in shares of Insulet Corp. by 12.7% in the first quarter. Daruma Capital Management LLC now owns 1,483,179 shares of the company’s stock worth $49,182,000 after buying an additional 166,639 shares in the last quarter.
Insulet Corp. Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The OmniPod System consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).
Receive News & Ratings for Insulet Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet Corp. and related companies with MarketBeat.com's FREE daily email newsletter.