Insulet (NASDAQ:PODD) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other equities analysts have also weighed in on PODD. Zacks Investment Research lowered Insulet from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Canaccord Genuity restated a “hold” rating and set a $50.00 target price on shares of Insulet in a report on Wednesday, September 27th. UBS Group upgraded Insulet from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Barclays raised their target price on Insulet from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Finally, Robert W. Baird raised their target price on Insulet from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Insulet presently has an average rating of “Buy” and an average target price of $62.53.
Shares of Insulet (NASDAQ PODD) opened at $72.91 on Thursday. The stock has a market capitalization of $4,400.16, a price-to-earnings ratio of -145.82 and a beta of 1.58. Insulet has a 12-month low of $38.43 and a 12-month high of $78.65. 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 posted its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue was up 28.4% compared to the same quarter last year. equities analysts forecast that Insulet will post -0.43 EPS for the current year.
In other Insulet news, Director James C. Mullen acquired 2,500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $67.45 per share, for a total transaction of $168,625.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of PODD. Point72 Asset Management L.P. bought a new position in shares of Insulet in the third quarter worth about $33,373,000. Janus Henderson Group PLC bought a new position in shares of Insulet in the second quarter worth about $27,428,000. JPMorgan Chase & Co. increased its stake in shares of Insulet by 104.9% in the third quarter. JPMorgan Chase & Co. now owns 611,595 shares of the medical instruments supplier’s stock worth $34,035,000 after purchasing an additional 313,093 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Insulet by 29.6% in the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after purchasing an additional 191,217 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Insulet by 120.7% in the second quarter. Renaissance Technologies LLC now owns 328,200 shares of the medical instruments supplier’s stock worth $16,840,000 after purchasing an additional 179,500 shares during the period.
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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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