Jefferies Group LLC Boosts Insulet Corporation (PODD) Price Target to $67.00
Insulet Corporation (NASDAQ:PODD) had its price target raised by Jefferies Group LLC from $58.00 to $67.00 in a report issued on Friday. The firm currently has a buy rating on the medical instruments supplier’s stock.
Other equities analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. set a $55.00 target price on shares of Insulet Corporation and gave the stock a hold rating in a research note on Friday, August 4th. Northland Securities restated a buy rating on shares of Insulet Corporation in a research note on Friday, August 4th. Canaccord Genuity restated a hold rating and issued a $50.00 target price (up from $42.00) on shares of Insulet Corporation in a research note on Tuesday, July 11th. BTIG Research downgraded shares of Insulet Corporation from a buy rating to a neutral rating in a research note on Monday, July 17th. Finally, Cowen and Company reaffirmed an outperform rating and issued a $63.00 price target (up previously from $52.00) on shares of Insulet Corporation in a research report on Friday, August 4th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $58.87.
Shares of Insulet Corporation (PODD) traded up $0.81 during trading hours on Friday, reaching $70.26. 722,456 shares of the company traded hands, compared to its average volume of 594,525. The company has a current ratio of 7.06, a quick ratio of 6.35 and a debt-to-equity ratio of 5.27.
Insulet Corporation (NASDAQ:PODD) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The business had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. Insulet Corporation had a negative net margin of 6.66% and a negative return on equity of 45.64%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. equities analysts predict that Insulet Corporation will post -0.51 earnings per share for the current fiscal year.
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In related news, EVP Charles Alpuche purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $58.08 per share, with a total value of $145,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PODD. BlackRock Inc. increased its stake in shares of 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 worth $180,724,000 after acquiring an additional 4,137,326 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Insulet Corporation in the second quarter worth $27,428,000. Lord Abbett & CO. LLC increased its stake in shares of Insulet Corporation by 29.6% in the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after acquiring an additional 191,217 shares during the period. Vanguard Group Inc. increased its stake in shares of Insulet Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock worth $196,355,000 after acquiring an additional 184,465 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Insulet Corporation by 120.7% in the second quarter. Renaissance Technologies LLC now owns 328,200 shares of the medical instruments supplier’s stock worth $16,840,000 after acquiring an additional 179,500 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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