Insulet (PODD) Lifted to Outperform at Raymond James Financial
Raymond James Financial upgraded shares of Insulet (NASDAQ:PODD) from a market perform rating to an outperform rating in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has $80.00 price objective on the medical instruments supplier’s stock.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley upped their target price on shares of Insulet from $55.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, November 3rd. Barclays started coverage on shares of Insulet in a research report on Friday, September 15th. They set an overweight rating and a $65.00 price target on the stock. UBS Group upgraded shares of Insulet from a market perform rating to an outperform rating in a research report on Monday. Leerink Swann reiterated an outperform rating and set a $74.00 price target (up previously from $65.00) on shares of Insulet in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Insulet from a sell rating to a hold rating and set a $68.00 price target on the stock in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Insulet currently has a consensus rating of Buy and an average target price of $62.53.
Insulet (NASDAQ:PODD) traded up $0.75 on Monday, hitting $75.83. 965,800 shares of the stock traded hands, compared to its average volume of 780,943. The company has a current ratio of 4.88, a quick ratio of 4.42 and a debt-to-equity ratio of 4.65. Insulet has a fifty-two week low of $38.43 and a fifty-two week high of $78.65. The company has a market cap of $4,410.00, a price-to-earnings ratio of -151.66 and a beta of 1.58.
Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Insulet had a negative net margin of 6.66% and a negative return on equity of 43.85%. The business had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. sell-side analysts predict that Insulet will post -0.43 EPS for the current fiscal year.
In other Insulet news, Director James C. Mullen bought 2,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $67.45 per share, for a total transaction of $168,625.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Insulet 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. Northern Trust Corp increased its stake in shares of Insulet by 3.2% in the 2nd quarter. Northern Trust Corp now owns 777,986 shares of the medical instruments supplier’s stock valued at $39,919,000 after acquiring an additional 24,188 shares during the last quarter. Paulson & CO. Inc. bought a new stake in shares of Insulet in the 2nd quarter valued at about $1,283,000. Fox Run Management L.L.C. bought a new stake in shares of Insulet in the 3rd quarter valued at about $435,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Insulet in the 3rd quarter valued at about $33,373,000.
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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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