Jefferies Group LLC Reaffirms Buy Rating for Insulet Corporation (NASDAQ:PODD)

Jefferies Group LLC reiterated their buy rating on shares of Insulet Corporation (NASDAQ:PODD) in a research note published on Wednesday, August 9th. The brokerage currently has a $58.00 price target on the medical instruments supplier’s stock, up from their prior price target of $48.00. Jefferies Group also issued estimates for Insulet Corporation’s Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at ($0.06) EPS and FY2018 earnings at $0.13 EPS.

Several other equities research analysts also recently commented on PODD. B. Riley reaffirmed a neutral rating and set a $44.00 price objective on shares of Insulet Corporation in a report on Tuesday, May 9th. Oppenheimer Holdings, Inc. set a $55.00 price objective on shares of Insulet Corporation and gave the company a hold rating in a report on Friday, August 4th. Northland Securities reaffirmed a buy rating on shares of Insulet Corporation in a report on Friday, August 4th. Cowen and Company reaffirmed an outperform rating and set a $63.00 price objective (up from $52.00) on shares of Insulet Corporation in a report on Friday, August 4th. Finally, BidaskClub downgraded shares of Insulet Corporation from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $50.46.

Shares of Insulet Corporation (NASDAQ PODD) traded up 0.44% during trading on Wednesday, hitting $54.82. 278,163 shares of the stock traded hands. Insulet Corporation has a 1-year low of $30.69 and a 1-year high of $55.92. The stock’s market cap is $3.18 billion. The stock has a 50 day moving average price of $51.93 and a 200-day moving average price of $45.61.

Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The company had revenue of $110 million for the quarter, compared to the consensus estimate of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Equities analysts forecast that Insulet Corporation will post ($0.50) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Insulet Corporation by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after buying an additional 235 shares during the period. Strs Ohio boosted its position in Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock valued at $172,000 after buying an additional 1,700 shares during the period. SG Americas Securities LLC bought a new position in Insulet Corporation during the second quarter valued at $180,000. Teacher Retirement System of Texas bought a new position in Insulet Corporation during the first quarter valued at $201,000. Finally, Diversified Trust Co bought a new position in Insulet Corporation during the second quarter valued at $205,000.

Insulet Corporation 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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