Zacks Investment Research cut shares of Insulet Corporation (NASDAQ:PODD) from a buy rating to a hold rating in a report released 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. “
Other equities research analysts have also issued research reports about the company. Cowen and Company restated a buy rating and set a $52.00 price objective on shares of Insulet Corporation in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a buy rating and set a $48.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. BidaskClub downgraded Insulet Corporation from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Northland Securities reaffirmed a buy rating on shares of Insulet Corporation in a report on Friday, August 4th. Finally, Wedbush reaffirmed a buy rating and set a $65.00 target price (up from $60.00) on shares of Insulet Corporation in a report on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $58.87.
Shares of Insulet Corporation (PODD) opened at $68.26 on Friday. Insulet Corporation has a 52-week low of $32.12 and a 52-week high of $72.26. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65.
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, topping analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. Insulet Corporation had a negative return on equity of 43.85% and a negative net margin of 6.66%. Insulet Corporation’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. research analysts predict that Insulet Corporation will post -0.42 earnings per share for the current year.
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In other news, EVP Charles Alpuche bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average cost of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Insulet Corporation by 11.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock worth $118,000 after purchasing an additional 235 shares in the last quarter. SG Americas Securities LLC bought a new stake in Insulet Corporation during the 2nd quarter worth approximately $180,000. Diversified Trust Co bought a new stake in Insulet Corporation during the 2nd quarter worth approximately $205,000. Wrapmanager Inc. bought a new stake in Insulet Corporation during the 2nd quarter worth approximately $217,000. Finally, RNC Capital Management LLC bought a new stake in Insulet Corporation during the 2nd quarter worth approximately $225,000.
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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