Insulet Corporation (PODD) Upgraded by Canaccord Genuity to “Buy”
Insulet Corporation (NASDAQ:PODD) was upgraded by research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Wednesday.
Several other brokerages have also issued reports on PODD. Robert W. Baird set a $65.00 price target on Insulet Corporation and gave the company a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research raised Insulet Corporation from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a research note on Thursday, October 12th. Leerink Swann reissued an “outperform” rating and issued a $74.00 price target (up from $65.00) on shares of Insulet Corporation in a research note on Thursday, October 12th. Barclays PLC assumed coverage on Insulet Corporation in a research note on Friday, September 15th. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Wedbush reissued a “buy” rating and issued a $65.00 price target (up from $60.00) on shares of Insulet Corporation in a research note on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Insulet Corporation presently has an average rating of “Buy” and an average price target of $56.36.
Insulet Corporation (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share.
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In other news, EVP Charles Alpuche bought 2,500 shares of the stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Insulet Corporation by 11.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock worth $118,000 after buying an additional 235 shares in the last quarter. SG Americas Securities LLC bought a new stake in Insulet Corporation during the second quarter worth $180,000. Diversified Trust Co bought a new stake in Insulet Corporation during the second quarter worth $205,000. Wrapmanager Inc. bought a new stake in Insulet Corporation during the second quarter worth $217,000. Finally, RNC Capital Management LLC bought a new stake in Insulet Corporation during the second quarter worth $225,000.
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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