Insulet Co. (NASDAQ:PODD) has received an average recommendation of “Buy” from the twenty-one ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $77.14.
A number of equities analysts recently issued reports on the company. Jefferies Group reissued a “buy” rating and set a $90.00 price target on shares of Insulet in a report on Friday, February 23rd. Cowen reissued an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Insulet in a report on Thursday, February 22nd. Stephens restated an “equal weight” rating and issued a $81.00 price objective (up previously from $60.00) on shares of Insulet in a research report on Thursday, February 22nd. BidaskClub upgraded shares of Insulet from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Finally, BMO Capital Markets started coverage on shares of Insulet in a research report on Monday, March 5th. They issued an “outperform” rating and a $90.00 price objective for the company.
In other news, COO Shacey Petrovic sold 1,319 shares of Insulet stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $76.81, for a total transaction of $101,312.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Lemoine sold 641 shares of Insulet stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $76.81, for a total transaction of $49,235.21. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of PODD. Frontier Capital Management Co. LLC lifted its position in shares of Insulet by 42.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,096,131 shares of the medical instruments supplier’s stock valued at $144,633,000 after acquiring an additional 624,465 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $33,373,000. Millennium Management LLC lifted its position in shares of Insulet by 154.1% during the 4th quarter. Millennium Management LLC now owns 941,567 shares of the medical instruments supplier’s stock valued at $64,968,000 after acquiring an additional 571,082 shares during the period. Renaissance Technologies LLC raised its position in shares of Insulet by 328.2% during the 4th quarter. Renaissance Technologies LLC now owns 661,200 shares of the medical instruments supplier’s stock worth $45,623,000 after purchasing an additional 506,800 shares during the last quarter. Finally, Fred Alger Management Inc. raised its position in shares of Insulet by 32.5% during the 4th quarter. Fred Alger Management Inc. now owns 1,808,616 shares of the medical instruments supplier’s stock worth $124,795,000 after purchasing an additional 443,970 shares during the last quarter.
Insulet (NASDAQ PODD) traded up $0.41 during midday trading on Friday, hitting $84.93. The company had a trading volume of 155,322 shares, compared to its average volume of 510,099. The company has a debt-to-equity ratio of 3.57, a quick ratio of 5.85 and a current ratio of 6.24. Insulet has a 52-week low of $38.43 and a 52-week high of $85.44. The stock has a market capitalization of $4,948.06, a price-to-earnings ratio of -183.74 and a beta of 1.56.
Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.04). Insulet had a negative return on equity of 29.73% and a negative net margin of 5.79%. The company had revenue of $130.50 million for the quarter, compared to analysts’ expectations of $125.16 million. During the same period in the prior year, the business earned ($0.16) EPS. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. equities analysts forecast that Insulet will post -0.3 EPS for the current year.
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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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