Insulet (NASDAQ:PODD) was downgraded by research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat reports. They currently have a $100.00 target price on the medical instruments supplier’s stock. Northland Securities’ price objective suggests a potential downside of 8.90% from the stock’s current price.
The analysts wrote, “We are downgrading Perform, & maintain $100 PT. Our downgrade is simply a valuation call. With the stock is trading @ 11x revenues & no major catalyst short-term, we believe it is prudent to move aside. Management is to be commended for delivering results; and slight revenue beats over the next few quarters (FY19 guidance of $667 – $690M), we believe are already baked into the stock.””
PODD has been the subject of a number of other research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Insulet in a research report on Monday, May 6th. Oppenheimer set a $100.00 price objective on shares of Insulet and gave the company a “hold” rating in a research report on Tuesday, February 26th. BidaskClub raised shares of Insulet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th. Finally, BTIG Research raised shares of Insulet from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Insulet presently has a consensus rating of “Buy” and a consensus price target of $105.10.
Shares of PODD opened at $109.77 on Monday. The stock has a market cap of $6.65 billion, a PE ratio of 2,195.40 and a beta of 1.12. The company has a debt-to-equity ratio of 2.68, a current ratio of 4.36 and a quick ratio of 3.71. Insulet has a 52 week low of $70.80 and a 52 week high of $114.63.
Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The business had revenue of $159.56 million during the quarter, compared to analyst estimates of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities analysts predict that Insulet will post 0.27 EPS for the current year.
In related news, insider Shacey Petrovic sold 895 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $113.00, for a total value of $101,135.00. Following the completion of the transaction, the insider now owns 95,559 shares of the company’s stock, valued at $10,798,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Fallon sold 5,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. The disclosure for this sale can be found here. Insiders sold 54,289 shares of company stock valued at $5,725,737 in the last three months. Company insiders own 3.50% of the company’s stock.
A number of large investors have recently bought and sold shares of PODD. Norges Bank acquired a new position in Insulet in the fourth quarter worth about $53,604,000. William Blair Investment Management LLC raised its position in Insulet by 15.7% in the first quarter. William Blair Investment Management LLC now owns 2,144,988 shares of the medical instruments supplier’s stock worth $203,967,000 after purchasing an additional 290,790 shares in the last quarter. First Trust Advisors LP raised its position in Insulet by 103.6% in the fourth quarter. First Trust Advisors LP now owns 458,028 shares of the medical instruments supplier’s stock worth $36,331,000 after purchasing an additional 233,075 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in Insulet by 12.3% in the first quarter. Frontier Capital Management Co. LLC now owns 1,958,736 shares of the medical instruments supplier’s stock worth $186,256,000 after purchasing an additional 214,033 shares in the last quarter. Finally, Standard Life Aberdeen plc acquired a new position in Insulet in the fourth quarter worth about $16,011,000.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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