Insulet Corporation (PODD) Given Average Recommendation of “Buy” by Brokerages
Shares of Insulet Corporation (NASDAQ:PODD) have been assigned an average rating of “Buy” from the nineteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $52.91.
A number of research analysts recently issued reports on PODD shares. Jefferies Group LLC reiterated a “buy” rating on shares of Insulet Corporation in a research note on Friday, June 16th. BidaskClub upgraded Insulet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 price target (up from $42.00) on shares of Insulet Corporation in a report on Tuesday, July 11th. Cowen and Company reissued a “buy” rating and issued a $52.00 price target on shares of Insulet Corporation in a report on Friday, July 14th. Finally, BTIG Research cut Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th.
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Shares of Insulet Corporation (PODD) traded up 1.31% during midday trading on Wednesday, hitting $60.35. 379,511 shares of the stock were exchanged. Insulet Corporation has a 52-week low of $30.69 and a 52-week high of $60.47. The firm’s 50 day moving average price is $57.85 and its 200-day moving average price is $49.30. The stock’s market cap is $3.50 billion.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $110.00 million during the quarter, compared to the consensus estimate of $106.23 million. Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. On average, equities research analysts expect that Insulet Corporation will post ($0.51) earnings per share for the current fiscal year.
In other news, EVP Charles Alpuche acquired 2,500 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Paulson & CO. Inc. purchased a new stake in shares of Insulet Corporation during the 2nd quarter worth approximately $1,283,000. Lord Abbett & CO. LLC raised its holdings in shares of Insulet Corporation by 29.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after acquiring an additional 191,217 shares in the last quarter. RNC Capital Management LLC purchased a new stake in shares of Insulet Corporation during the 2nd quarter worth approximately $225,000. The Manufacturers Life Insurance Company raised its holdings in shares of Insulet Corporation by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,746 shares of the medical instruments supplier’s stock worth $2,296,000 after acquiring an additional 198 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Insulet Corporation by 7.7% during the 2nd quarter. State Street Corp now owns 1,189,155 shares of the medical instruments supplier’s stock worth $61,014,000 after acquiring an additional 85,280 shares in the last quarter.
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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