Barclays PLC Begins Coverage on Insulet Corporation (PODD)
Research analysts at Barclays PLC initiated coverage on shares of Insulet Corporation (NASDAQ:PODD) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $65.00 price target on the medical instruments supplier’s stock. Barclays PLC’s price objective would suggest a potential upside of 9.32% from the stock’s previous close.
Several other research firms have also weighed in on PODD. William Blair reiterated an “outperform” rating on shares of Insulet Corporation in a report on Thursday, May 25th. ValuEngine upgraded shares of Insulet Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insulet Corporation in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Insulet Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $51.50.
Shares of Insulet Corporation (NASDAQ:PODD) traded up 0.51% during mid-day trading on Friday, reaching $59.46. 565,554 shares of the company’s stock traded hands. The firm’s market cap is $3.45 billion. Insulet Corporation has a 52 week low of $30.69 and a 52 week high of $59.97. The company’s 50 day moving average is $55.64 and its 200-day moving average is $47.58.
Insulet Corporation (NASDAQ:PODD) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. Equities analysts expect that Insulet Corporation will post ($0.50) earnings per share for the current fiscal year.
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In other Insulet Corporation news, EVP Charles Alpuche purchased 2,500 shares of the stock in a transaction on Wednesday, September 6th. The shares were purchased at an average cost of $58.08 per share, for a total transaction of $145,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC increased its stake in Insulet Corporation by 29.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock valued at $43,013,000 after buying an additional 191,217 shares during the last quarter. RNC Capital Management LLC acquired a new stake in Insulet Corporation in the 2nd quarter valued at $225,000. The Manufacturers Life Insurance Company increased its stake in Insulet Corporation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,746 shares of the medical instruments supplier’s stock valued at $2,296,000 after buying an additional 198 shares during the last quarter. State Street Corp increased its stake in Insulet Corporation by 7.7% in the 2nd quarter. State Street Corp now owns 1,189,155 shares of the medical instruments supplier’s stock valued at $61,014,000 after buying an additional 85,280 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Insulet Corporation in the 2nd quarter valued at $27,428,000.
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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