Wedbush reaffirmed their buy rating on shares of Insulet Corporation (NASDAQ:PODD) in a report issued on Tuesday morning. Wedbush currently has a $65.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $60.00.
Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Insulet Corporation from a hold rating to a sell rating in a report on Thursday, October 5th. Canaccord Genuity reissued a hold rating and issued a $50.00 target price on shares of Insulet Corporation in a research note on Wednesday, September 27th. Barclays PLC began coverage on shares of Insulet Corporation in a research note on Friday, September 15th. They issued an overweight rating and a $65.00 target price on the stock. BidaskClub raised shares of Insulet Corporation from a buy rating to a strong-buy rating in a research note on Friday, August 25th. Finally, Jefferies Group LLC reissued a buy rating and issued a $58.00 target price (up previously from $48.00) on shares of Insulet Corporation in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Insulet Corporation has a consensus rating of Buy and a consensus price target of $54.29.
Insulet Corporation (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The company had revenue of $110.00 million for the quarter, compared to the consensus estimate of $106.23 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue was up 26.0% compared to the same quarter last year.
In other news, EVP Charles Alpuche acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average cost of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PODD. BlackRock Inc. grew its stake in Insulet Corporation by 7,285.2% during the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock worth $180,724,000 after buying an additional 4,137,326 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Insulet Corporation by 64.2% during the first quarter. Clearbridge Investments LLC now owns 2,379,224 shares of the medical instruments supplier’s stock worth $102,521,000 after purchasing an additional 930,062 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Insulet Corporation during the second quarter worth approximately $27,428,000. Lord Abbett & CO. LLC lifted its position in shares of Insulet Corporation by 29.6% during the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after purchasing an additional 191,217 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Insulet Corporation by 19.6% during the first quarter. Champlain Investment Partners LLC now owns 1,144,875 shares of the medical instruments supplier’s stock worth $49,333,000 after purchasing an additional 187,630 shares in the last quarter.
About Insulet Corporation
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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