Insulet Co. (NASDAQ:PODD) had its price objective upped by stock analysts at Robert W. Baird from $65.00 to $72.00 in a research note issued on Friday. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Robert W. Baird’s price target suggests a potential upside of 3.67% from the stock’s current price.
Several other research firms also recently weighed in on PODD. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insulet in a research report on Saturday, July 22nd. Zacks Investment Research downgraded Insulet from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 target price on shares of Insulet in a research report on Friday, July 14th. Northland Securities reiterated a “buy” rating on shares of Insulet in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “buy” rating and set a $52.00 target price on shares of Insulet in a research report on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Insulet presently has a consensus rating of “Buy” and an average price target of $58.87.
Insulet (NASDAQ PODD) traded up $11.30 during mid-day trading on Friday, hitting $69.45. The stock had a trading volume of 3,400,908 shares, compared to its average volume of 445,758. The company has a quick ratio of 6.35, a current ratio of 7.06 and a debt-to-equity ratio of 5.27.
Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. Insulet had a negative return on equity of 12.85% and a negative net margin of 1.83%. Insulet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. research analysts predict that Insulet will post -0.51 earnings per share for the current year.
In other news, EVP Charles Alpuche bought 2,500 shares of Insulet stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODD. Principal Financial Group Inc. grew its position in Insulet by 1.1% in the first quarter. Principal Financial Group Inc. now owns 8,171 shares of the medical instruments supplier’s stock worth $352,000 after acquiring an additional 92 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Insulet by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock worth $196,355,000 after purchasing an additional 184,465 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Insulet by 9.1% during the 1st quarter. Geode Capital Management LLC now owns 468,175 shares of the medical instruments supplier’s stock worth $20,173,000 after purchasing an additional 39,038 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Insulet by 17.1% during the 1st quarter. Renaissance Technologies LLC now owns 148,700 shares of the medical instruments supplier’s stock worth $6,407,000 after purchasing an additional 21,700 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Insulet by 7,285.2% during the 1st quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock worth $180,724,000 after purchasing an additional 4,137,326 shares during the last quarter.
Insulet 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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