Insulet Corporation (PODD) Downgraded by Zacks Investment Research
Insulet Corporation (NASDAQ:PODD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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 the company. Barclays PLC started coverage on Insulet Corporation in a research note on Friday, September 15th. They issued an “overweight” rating and a $65.00 price objective for the company. BTIG Research lowered Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Cowen and Company reissued a “buy” rating and issued a $52.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Insulet Corporation in a report on Saturday, July 22nd. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Insulet Corporation presently has a consensus rating of “Buy” and a consensus target price of $58.87.
Shares of Insulet Corporation (NASDAQ:PODD) opened at $67.78 on Friday. The company has a debt-to-equity ratio of 4.65, a current ratio of 4.88 and a quick ratio of 6.35. Insulet Corporation has a 52 week low of $32.12 and a 52 week high of $72.26.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. Insulet Corporation had a negative return on equity of 43.85% and a negative net margin of 6.66%. The company had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $114.02 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. research analysts predict that Insulet Corporation will post -0.42 EPS for the current fiscal year.
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In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in Insulet Corporation by 0.5% during the second quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock worth $445,755,000 after acquiring an additional 39,836 shares during the period. Capital Research Global Investors grew its holdings in Insulet Corporation by 2.5% in the second quarter. Capital Research Global Investors now owns 5,883,633 shares of the medical instruments supplier’s stock valued at $301,889,000 after purchasing an additional 145,724 shares during the last quarter. Vanguard Group Inc. grew its holdings in Insulet Corporation by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,655,119 shares of the medical instruments supplier’s stock valued at $238,854,000 after purchasing an additional 98,272 shares during the last quarter. BlackRock Inc. grew its holdings in Insulet Corporation by 7,285.2% in the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock valued at $180,724,000 after purchasing an additional 4,137,326 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in Insulet Corporation by 2.8% in the second quarter. Frontier Capital Management Co. LLC now owns 1,809,473 shares of the medical instruments supplier’s stock valued at $92,844,000 after purchasing an additional 50,019 shares during the last quarter.
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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