Insulet Corporation (PODD) Receives Average Recommendation of “Buy” from Analysts
Insulet Corporation (NASDAQ:PODD) has been given an average recommendation of “Buy” by the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $51.55.
PODD has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Insulet Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Insulet Corporation in a research report on Friday, June 16th. Cowen and Company reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Insulet Corporation in a research report on Friday, July 14th. BidaskClub downgraded shares of Insulet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Northland Securities reaffirmed a “buy” rating on shares of Insulet Corporation in a research report on Friday, August 4th.
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In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average cost of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in PODD. Nationwide Fund Advisors boosted its holdings in shares of Insulet Corporation by 238.8% in the 1st quarter. Nationwide Fund Advisors now owns 122,304 shares of the medical instruments supplier’s stock valued at $5,270,000 after acquiring an additional 86,210 shares during the last quarter. Strs Ohio boosted its holdings in shares of Insulet Corporation by 73.9% in the 1st quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock valued at $172,000 after acquiring an additional 1,700 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Insulet Corporation by 943.0% in the 1st quarter. Russell Investments Group Ltd. now owns 24,230 shares of the medical instruments supplier’s stock valued at $1,044,000 after acquiring an additional 21,907 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Insulet Corporation by 1.9% in the 1st quarter. Swiss National Bank now owns 94,300 shares of the medical instruments supplier’s stock valued at $4,063,000 after acquiring an additional 1,800 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Insulet Corporation by 2.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 192,168 shares of the medical instruments supplier’s stock valued at $8,281,000 after acquiring an additional 3,775 shares during the last quarter.
Insulet Corporation (PODD) traded up 0.51% during midday trading on Friday, hitting $59.46. 565,554 shares of the stock were exchanged. The company’s market cap is $3.45 billion. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $59.97. The firm’s 50 day moving average price is $55.64 and its 200 day moving average price is $47.58.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The firm had revenue of $110.00 million for the quarter, compared to the consensus estimate of $106.23 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts forecast that Insulet Corporation will post ($0.50) earnings per share for the current fiscal year.
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).
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