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

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. “

Several other equities research analysts have also weighed in on PODD. Jefferies Group LLC reaffirmed a buy rating on shares of Insulet Corporation in a report on Friday, June 16th. BidaskClub raised shares of Insulet Corporation from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Canaccord Genuity reaffirmed a hold rating and issued a $50.00 target price (up previously from $42.00) on shares of Insulet Corporation in a report on Tuesday, July 11th. Cowen and Company reaffirmed a buy rating and issued a $52.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Finally, BTIG Research lowered shares of Insulet Corporation from a buy rating to a neutral rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $51.50.

Insulet Corporation (PODD) traded down 0.44% on Thursday, reaching $58.83. 460,509 shares of the company’s stock were exchanged. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $59.99. The firm has a 50-day moving average of $57.54 and a 200-day moving average of $48.88. The firm’s market capitalization is $3.42 billion.

Insulet Corporation (NASDAQ:PODD) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts expect that Insulet Corporation will post ($0.51) earnings per share for the current year.

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In other Insulet Corporation news, EVP Charles Alpuche bought 2,500 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $58.08 per share, for a total transaction of $145,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Rosenblum Silverman Sutton S F Inc. CA acquired a new position in Insulet Corporation during the 2nd quarter valued at about $2,122,000. Geneva Advisors LLC lifted its position in Insulet Corporation by 2.3% during the 2nd quarter. Geneva Advisors LLC now owns 22,215 shares of the medical instruments supplier’s stock valued at $1,140,000 after purchasing an additional 504 shares during the period. Vanguard Group Inc. lifted its position in Insulet Corporation by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock valued at $196,355,000 after purchasing an additional 184,465 shares during the period. Granite Investment Partners LLC lifted its position in Insulet Corporation by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 19,502 shares of the medical instruments supplier’s stock valued at $1,001,000 after purchasing an additional 76 shares during the period. Finally, FMR LLC lifted its position in Insulet Corporation by 0.5% during the 2nd quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock valued at $445,755,000 after purchasing an additional 39,836 shares during the period.

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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Analyst Recommendations for Insulet Corporation (NASDAQ:PODD)

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