Insulet (NASDAQ:PODD) had its price objective boosted by Barclays from $70.00 to $75.00 in a research note issued to investors on Monday, November 20th. Barclays currently has an overweight rating on the medical instruments supplier’s stock.
A number of other brokerages have also recently weighed in on PODD. BidaskClub cut shares of Insulet from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Cowen reissued an outperform rating and issued a $63.00 price target (up previously from $52.00) on shares of Insulet in a report on Friday, August 4th. Northland Securities reaffirmed a buy rating on shares of Insulet in a report on Friday, August 4th. Oppenheimer set a $55.00 target price on shares of Insulet and gave the stock a hold rating in a report on Friday, August 4th. Finally, Jefferies Group reissued a buy rating and set a $58.00 price objective (up previously from $48.00) on shares of Insulet in a report on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $61.07.
Insulet (NASDAQ PODD) traded down $0.06 during trading on Monday, hitting $68.73. 469,746 shares of the stock traded hands, compared to its average volume of 503,114. Insulet has a 1-year low of $36.05 and a 1-year high of $72.99. The company has a current ratio of 4.88, a quick ratio of 4.42 and a debt-to-equity ratio of 4.65.
Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. Insulet had a negative net margin of 6.66% and a negative return on equity of 43.85%. The firm’s revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. equities research analysts predict that Insulet will post -0.42 earnings per share for the current fiscal year.
In other Insulet news, Director James C. Mullen purchased 2,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $67.45 per share, with a total value of $168,625.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new stake in Insulet during the 3rd quarter valued at $33,373,000. Janus Henderson Group PLC acquired a new stake in shares of Insulet during the second quarter worth $27,428,000. JPMorgan Chase & Co. lifted its holdings in shares of Insulet by 104.9% during the third quarter. JPMorgan Chase & Co. now owns 611,595 shares of the medical instruments supplier’s stock worth $34,035,000 after buying an additional 313,093 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Insulet by 29.6% during the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after buying an additional 191,217 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Insulet by 120.7% during the second quarter. Renaissance Technologies LLC now owns 328,200 shares of the medical instruments supplier’s stock worth $16,840,000 after buying an additional 179,500 shares in the last quarter.
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Insulet 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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