Insulet Co. (NASDAQ:PODD) had its price target increased by Jefferies Group LLC from $58.00 to $67.00 in a research report report published on Friday. Jefferies Group LLC currently has a buy rating on the medical instruments supplier’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Insulet from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Tuesday, July 18th. Cowen and Company reissued a buy rating and issued a $52.00 price objective on shares of Insulet in a research note on Friday, July 14th. Northland Securities reissued a buy rating on shares of Insulet in a research note on Friday, August 4th. BidaskClub lowered shares of Insulet from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Finally, Wedbush reissued a buy rating and issued a $65.00 price objective (up previously from $60.00) on shares of Insulet in a research note on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Insulet currently has an average rating of Buy and an average price target of $58.87.
Shares of Insulet (PODD) traded up $11.30 during mid-day trading on Friday, reaching $69.45. 3,400,908 shares of the company’s stock traded hands, compared to its average volume of 445,758. The company has a debt-to-equity ratio of 5.27, a quick ratio of 6.35 and a current ratio of 7.06.
Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Insulet had a negative net margin of 1.83% and a negative return on equity of 12.85%. The business had revenue of $121.80 million during the quarter, compared to analyst estimates of $114.02 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. equities analysts forecast that Insulet will post -0.51 EPS for the current year.
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In related news, EVP Charles Alpuche acquired 2,500 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Insulet by 11.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock worth $118,000 after purchasing an additional 235 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Insulet during the second quarter worth approximately $180,000. Diversified Trust Co acquired a new stake in Insulet during the second quarter worth approximately $205,000. Wrapmanager Inc. acquired a new stake in Insulet during the second quarter worth approximately $217,000. Finally, RNC Capital Management LLC acquired a new stake in Insulet during the second quarter worth approximately $225,000.
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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