Insulet Corporation (NASDAQ:PODD) released its quarterly earnings results on Thursday. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06, Briefing.com reports. The business had revenue of $121.80 million during the quarter, compared to the consensus estimate of $114.02 million. Insulet Corporation had a negative return on equity of 45.64% and a negative net margin of 6.66%. The business’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS.
Insulet Corporation (NASDAQ PODD) traded up $11.03 on Friday, reaching $69.45. The company’s stock had a trading volume of 3,400,908 shares, compared to its average volume of 445,758.
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Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Insulet Corporation from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday. Jefferies Group LLC lifted their price target on Insulet Corporation from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird lifted their price target on Insulet Corporation from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday. Canaccord Genuity raised Insulet Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $65.00 in a research note on Wednesday. Finally, Leerink Swann reiterated an “outperform” rating and set a $74.00 price objective (up previously from $65.00) on shares of Insulet Corporation in a research report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Insulet Corporation presently has a consensus rating of “Buy” and a consensus target price of $58.87.
In other news, EVP Charles Alpuche purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $58.08 per share, with a total value of $145,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.
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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