Insulet (NASDAQ:PODD) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01, Briefing.com reports. The company had revenue of $151.10 million for the quarter, compared to the consensus estimate of $148.82 million. Insulet had a negative return on equity of 11.91% and a negative net margin of 3.47%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) EPS. Insulet updated its FY 2018 guidance to EPS and its Q1 2018 guidance to EPS.
Shares of Insulet stock opened at $88.53 on Friday. The firm has a market cap of $5.20 billion, a P/E ratio of -192.46 and a beta of 1.67. Insulet has a 12 month low of $63.05 and a 12 month high of $108.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.01 and a current ratio of 5.54.
In related news, SVP Michael P. Spears sold 5,043 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $86.08, for a total transaction of $434,101.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aiman Abdel-Malek sold 602 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $86.60, for a total value of $52,133.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,809 shares of company stock worth $704,659 in the last ninety days. 3.60% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Chicago Equity Partners LLC bought a new position in Insulet during the 2nd quarter worth about $375,000. Oppenheimer Asset Management Inc. bought a new position in Insulet during the 2nd quarter worth about $300,000. Paloma Partners Management Co increased its holdings in Insulet by 2,104.4% during the 2nd quarter. Paloma Partners Management Co now owns 168,699 shares of the medical instruments supplier’s stock worth $14,458,000 after purchasing an additional 161,046 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Insulet by 26.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 791,702 shares of the medical instruments supplier’s stock worth $67,848,000 after purchasing an additional 166,585 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in Insulet by 78.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 71,482 shares of the medical instruments supplier’s stock worth $6,126,000 after purchasing an additional 31,482 shares in the last quarter.
A number of research analysts have recently weighed in on PODD shares. BidaskClub downgraded Insulet from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Zacks Investment Research raised Insulet from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Monday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $97.00 price target on shares of Insulet in a research note on Friday, August 3rd. Morgan Stanley increased their price target on Insulet from $96.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. Finally, Oppenheimer set a $96.00 price target on Insulet and gave the company a “hold” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Insulet has an average rating of “Buy” and a consensus price target of $99.38.
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.
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