Insulet Corporation (NASDAQ:PODD)‘s stock had its “outperform” rating reiterated by equities researchers at Cowen and Company in a research report issued on Friday, The Fly reports. They presently have a $63.00 price target on the medical instruments supplier’s stock, up from their prior price target of $52.00. Cowen and Company’s target price would suggest a potential upside of 17.43% from the stock’s current price.

A number of other equities analysts have also weighed in on PODD. BidaskClub lowered Insulet Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insulet Corporation in a research note on Saturday, July 22nd. Zacks Investment Research lowered Insulet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BTIG Research lowered Insulet Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Insulet Corporation in a research note on Friday, July 14th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $49.69.

Shares of Insulet Corporation (PODD) traded up 7.11% during mid-day trading on Friday, reaching $53.65. The company’s stock had a trading volume of 963,436 shares. Insulet Corporation has a 12-month low of $30.69 and a 12-month high of $55.46. The firm’s market cap is $3.11 billion. The firm’s 50-day moving average price is $50.00 and its 200 day moving average price is $44.62.

Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative return on equity of 46.88% and a negative net margin of 7.30%. The company had revenue of $110 million during the quarter, compared to analysts’ expectations of $106.23 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 26.0% compared to the same quarter last year. On average, analysts expect that Insulet Corporation will post ($0.48) EPS for the current year.

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In other Insulet Corporation news, Director Jessica Hopfield purchased 2,580 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $38.68 per share, for a total transaction of $99,794.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael P. Spears purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $40.59 per share, with a total value of $101,475.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 8,080 shares of company stock valued at $317,339. 1.90% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Insulet Corporation by 7,285.2% in the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock valued at $180,724,000 after buying an additional 4,137,326 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Insulet Corporation by 64.2% in the first quarter. Clearbridge Investments LLC now owns 2,379,224 shares of the medical instruments supplier’s stock valued at $102,521,000 after buying an additional 930,062 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Insulet Corporation by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,144,875 shares of the medical instruments supplier’s stock valued at $49,333,000 after buying an additional 187,630 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Insulet Corporation by 11.9% in the first quarter. Frontier Capital Management Co. LLC now owns 1,759,454 shares of the medical instruments supplier’s stock valued at $75,815,000 after buying an additional 187,577 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Insulet Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock valued at $196,355,000 after buying an additional 184,465 shares in the last quarter.

About Insulet Corporation

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 features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).

The Fly

Analyst Recommendations for Insulet Corporation (NASDAQ:PODD)

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