Insulet Co. (PODD) Receives $89.94 Consensus PT from Brokerages

Shares of Insulet Co. (NASDAQ:PODD) have been assigned a consensus recommendation of “Buy” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $89.94.

PODD has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Insulet from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Cowen restated an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Insulet in a research report on Thursday, February 22nd. Barclays restated an “overweight” rating and issued a $90.00 price target (up previously from $85.00) on shares of Insulet in a research report on Thursday, February 22nd. Morgan Stanley restated an “equal weight” rating and issued a $87.00 price target (up previously from $76.00) on shares of Insulet in a research report on Thursday, February 22nd. Finally, BidaskClub upgraded shares of Insulet from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 23rd.

Insulet opened at $98.15 on Monday, Marketbeat.com reports. The company has a market cap of $5.69 billion, a PE ratio of -213.37 and a beta of 1.37. The company has a current ratio of 5.48, a quick ratio of 5.16 and a debt-to-equity ratio of 3.34. Insulet has a 1 year low of $47.31 and a 1 year high of $102.89.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, May 3rd. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.08. The firm had revenue of $123.60 million for the quarter, compared to analysts’ expectations of $121.76 million. Insulet had a negative net margin of 4.82% and a negative return on equity of 20.02%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. analysts anticipate that Insulet will post -0.18 earnings per share for the current fiscal year.

In other Insulet news, SVP Michael P. Spears sold 8,114 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $86.64, for a total transaction of $702,996.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael P. Spears sold 7,496 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $749,600.00. The disclosure for this sale can be found here. Insiders have sold 42,277 shares of company stock worth $3,875,186 in the last quarter. Company insiders own 3.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PODD. Frontier Capital Management Co. LLC boosted its stake in shares of Insulet by 7.1% during the first quarter. Frontier Capital Management Co. LLC now owns 2,245,988 shares of the medical instruments supplier’s stock valued at $194,682,000 after purchasing an additional 149,857 shares during the period. Fred Alger Management Inc. boosted its stake in shares of Insulet by 32.5% during the fourth quarter. Fred Alger Management Inc. now owns 1,808,616 shares of the medical instruments supplier’s stock valued at $124,795,000 after purchasing an additional 443,970 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Insulet by 2.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,208,861 shares of the medical instruments supplier’s stock valued at $104,784,000 after purchasing an additional 34,025 shares during the period. Millennium Management LLC boosted its stake in shares of Insulet by 154.1% during the fourth quarter. Millennium Management LLC now owns 941,567 shares of the medical instruments supplier’s stock valued at $64,968,000 after purchasing an additional 571,082 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Insulet by 328.2% during the fourth quarter. Renaissance Technologies LLC now owns 661,200 shares of the medical instruments supplier’s stock valued at $45,623,000 after purchasing an additional 506,800 shares during the period.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.

Analyst Recommendations for Insulet (NASDAQ:PODD)

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