Brokerages Anticipate Insulet Corporation (PODD) Will Post Quarterly Sales of $114.24 Million
Wall Street brokerages predict that Insulet Corporation (NASDAQ:PODD) will post $114.24 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Insulet Corporation’s earnings. The highest sales estimate is $117.44 million and the lowest is $108.70 million. Insulet Corporation reported sales of $94.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.4%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Insulet Corporation will report full year sales of $114.24 million for the current financial year, with estimates ranging from $438.70 million to $454.09 million. For the next financial year, analysts expect that the company will post sales of $537.63 million per share, with estimates ranging from $504.90 million to $582.01 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Insulet Corporation.
Insulet Corporation (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The company had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. During the same period in the prior year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis.
PODD has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Insulet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Canaccord Genuity reaffirmed a “hold” rating and issued a $50.00 target price (up from $42.00) on shares of Insulet Corporation in a research note on Tuesday, July 11th. Barclays PLC initiated coverage on shares of Insulet Corporation in a research note on Friday, September 15th. They issued an “overweight” rating and a $65.00 target price on the stock. BTIG Research downgraded shares of Insulet Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $48.00 price objective on shares of Insulet Corporation in a research report on Friday, July 14th. Eight investment 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 stock presently has a consensus rating of “Buy” and a consensus price target of $56.36.
Insulet Corporation (PODD) opened at 57.56 on Monday. The company’s 50-day moving average is $58.72 and its 200 day moving average is $50.79. Insulet Corporation has a 52 week low of $30.69 and a 52 week high of $62.82. The company’s market capitalization is $3.34 billion.
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In other Insulet Corporation news, EVP Charles Alpuche bought 2,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $58.08 per share, for a total transaction of $145,200.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Insulet Corporation by 0.5% during the 2nd quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock valued at $445,755,000 after buying an additional 39,836 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Insulet Corporation by 2.5% during the 2nd quarter. Capital Research Global Investors now owns 5,883,633 shares of the medical instruments supplier’s stock valued at $301,889,000 after buying an additional 145,724 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Insulet Corporation by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,655,119 shares of the medical instruments supplier’s stock valued at $238,854,000 after buying an additional 98,272 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Insulet Corporation by 7,285.2% during the 1st 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. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Insulet Corporation by 2.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,809,473 shares of the medical instruments supplier’s stock valued at $92,844,000 after buying an additional 50,019 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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