Insulet Corporation (PODD) Posts Earnings Results, Beats Estimates By $0.06 EPS
Insulet Corporation (NASDAQ:PODD) issued its quarterly earnings data on Thursday. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06, Briefing.com reports. The firm had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $114.02 million. Insulet Corporation had a negative net margin of 6.66% and a negative return on equity of 45.64%. The business’s revenue was up 28.4% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share.
Insulet Corporation (PODD) traded up $11.03 during midday trading on Friday, hitting $69.45. 3,400,908 shares of the stock traded hands, compared to its average volume of 445,758.
In other Insulet Corporation news, EVP Charles Alpuche purchased 2,500 shares of the stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $58.08 per share, with a total value of $145,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.
Several research firms recently weighed in on PODD. Zacks Investment Research cut shares of Insulet Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Canaccord Genuity restated a “hold” rating and set a $50.00 price target (up from $42.00) on shares of Insulet Corporation in a report on Tuesday, July 11th. Barclays PLC began coverage on shares of Insulet Corporation in a report on Friday, September 15th. They set an “overweight” rating and a $65.00 price target on the stock. BTIG Research cut shares of Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Finally, Jefferies Group LLC restated a “buy” rating and set a $48.00 price target on shares of Insulet Corporation in a report on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Insulet Corporation presently has an average rating of “Buy” and a consensus price target of $58.87.
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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