Insulet Corporation (PODD) PT Set at $55.00 by Oppenheimer Holdings, Inc.
Insulet Corporation (NASDAQ:PODD) has been given a $55.00 price objective by investment analysts at Oppenheimer Holdings, Inc. in a report released on Friday. The brokerage currently has a “hold” rating on the medical instruments supplier’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 2.52% from the company’s previous close.
Several other brokerages have also recently issued reports on PODD. William Blair reaffirmed an “outperform” rating on shares of Insulet Corporation in a report on Thursday, May 25th. ValuEngine raised Insulet Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Zacks Investment Research cut Insulet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Northland Securities reissued a “buy” rating on shares of Insulet Corporation in a research note on Friday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.69.
Shares of Insulet Corporation (NASDAQ PODD) traded up 7.11% during trading on Friday, hitting $53.65. The stock had a trading volume of 963,436 shares. The stock has a 50 day moving average of $50.00 and a 200 day moving average of $44.62. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $55.46. The company’s market cap is $3.11 billion.
Insulet Corporation (NASDAQ:PODD) last issued its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 firm had revenue of $110 million for the quarter, compared to analysts’ expectations of $106.23 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. Equities analysts forecast that Insulet Corporation will post ($0.48) EPS for the current fiscal year.
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In other Insulet Corporation news, Director Jessica Hopfield bought 2,580 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average price of $38.68 per share, with a total value of $99,794.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael P. Spears bought 2,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $40.59 per share, for a total transaction of $101,475.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,080 shares of company stock worth $317,339. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Insulet Corporation during the second quarter worth approximately $180,000. Strs Ohio boosted its position in Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock worth $172,000 after buying an additional 1,700 shares in the last quarter. Diversified Trust Co acquired a new position in Insulet Corporation during the second quarter worth approximately $205,000. Wrapmanager Inc. acquired a new position in Insulet Corporation during the second quarter worth approximately $217,000. Finally, Teacher Retirement System of Texas acquired a new position in Insulet Corporation during the first quarter worth approximately $201,000.
Insulet Corporation 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 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).
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