Insulet (PODD) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Insulet (NASDAQ:PODD) from a sell rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “INSULET CORPORATION is an innovative medical device company dedicated to improving the lives of people with diabetes. The Company’s OmniPod Insulin Management System is a revolutionary, discreet and easy-to-use insulin infusion system that features two easy-to-use components with no tubing and fully-automated cannula insertion. Through the OmniPod System, Insulet seeks to expand the use of continuous subcutaneous insulin infusion (CSII) therapy among people with insulin-dependent diabetes. “

A number of other equities research analysts have also recently weighed in on PODD. Wedbush restated a buy rating and issued a $65.00 price target (up previously from $60.00) on shares of Insulet in a report on Tuesday, October 10th. Leerink Swann restated an outperform rating and issued a $74.00 price target (up previously from $65.00) on shares of Insulet in a report on Thursday, October 12th. Robert W. Baird set a $65.00 price target on Insulet and gave the stock a buy rating in a report on Friday, October 13th. Canaccord Genuity upgraded Insulet from a hold rating to a buy rating and upped their price target for the stock from $50.00 to $65.00 in a report on Wednesday, November 1st. Finally, Jefferies Group upped their price target on Insulet from $58.00 to $67.00 and gave the stock a buy rating in a report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Insulet presently has an average rating of Buy and an average price target of $62.53.

Insulet (NASDAQ:PODD) opened at $75.84 on Thursday. Insulet has a one year low of $38.43 and a one year high of $78.65. The company has a debt-to-equity ratio of 4.65, a quick ratio of 4.42 and a current ratio of 4.88.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $121.80 million during the quarter, compared to the consensus estimate of $114.02 million. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. equities research analysts predict that Insulet will post -0.43 earnings per share for the current fiscal year.

In related news, Director James C. Mullen bought 2,500 shares of the stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $67.45 per share, for a total transaction of $168,625.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Paulson & CO. Inc. acquired a new stake in Insulet during the 2nd quarter valued at $1,283,000. Northern Trust Corp grew its holdings in Insulet by 3.2% during the 2nd quarter. Northern Trust Corp now owns 777,986 shares of the medical instruments supplier’s stock valued at $39,919,000 after buying an additional 24,188 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Insulet during the 3rd quarter valued at $435,000. Point72 Asset Management L.P. acquired a new stake in Insulet during the 3rd quarter valued at $33,373,000. Finally, Bank of New York Mellon Corp grew its holdings in Insulet by 6.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 289,027 shares of the medical instruments supplier’s stock valued at $15,919,000 after buying an additional 18,111 shares during the last quarter.

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About Insulet

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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