Insulet Corp. (PODD) Trading Up 1.8%
Insulet Corp. (NASDAQ:PODD)’s share price was up 1.8% during trading on Tuesday . The stock traded as high as $34.04 and last traded at $33.86, with a volume of 370,523 shares changing hands. The stock had previously closed at $33.27.
Several equities analysts have commented on PODD shares. Zacks Investment Research raised Insulet Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, July 5th. Canaccord Genuity reaffirmed a “hold” rating on shares of Insulet Corp. in a report on Saturday, April 30th. BTIG Research started coverage on Insulet Corp. in a report on Tuesday, July 12th. They issued a “neutral” rating for the company. Sterne Agee CRT reaffirmed a “neutral” rating on shares of Insulet Corp. in a report on Monday, May 16th. Finally, Wedbush reissued an “outperform” rating and issued a $44.00 target price on shares of Insulet Corp. in a report on Friday, May 20th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $36.77.
The stock’s market cap is $1.93 billion. The company’s 50-day moving average price is $30.92 and its 200 day moving average price is $31.34.
Insulet Corp. (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). During the same quarter in the prior year, the firm earned ($0.21) EPS. The firm had revenue of $81.21 million for the quarter, compared to the consensus estimate of $79.06 million. The company’s revenue was up 68.7% on a year-over-year basis. Equities research analysts predict that Insulet Corp. will post ($0.69) earnings per share for the current fiscal year.
In other Insulet Corp. news, Director Regina O. Sommer sold 8,019 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $30.42, for a total transaction of $243,937.98. Following the completion of the transaction, the director now directly owns 20,330 shares in the company, valued at $618,438.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick J. Sullivan acquired 45,000 shares of the stock in a transaction on Wednesday, May 18th. The shares were purchased at an average price of $27.00 per share, with a total value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 202,795 shares of the company’s stock, valued at $5,475,465. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its position in shares of Insulet Corp. by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 37,181 shares of the company’s stock valued at $1,406,000 after buying an additional 344 shares in the last quarter. Tributary Capital Management LLC increased its position in shares of Insulet Corp. by 31.8% in the fourth quarter. Tributary Capital Management LLC now owns 55,740 shares of the company’s stock valued at $2,108,000 after buying an additional 13,440 shares in the last quarter. Rhumbline Advisers increased its position in shares of Insulet Corp. by 5.8% in the fourth quarter. Rhumbline Advisers now owns 70,122 shares of the company’s stock valued at $2,651,000 after buying an additional 3,850 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Insulet Corp. during the fourth quarter valued at approximately $2,909,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Insulet Corp. by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 80,958 shares of the company’s stock valued at $3,061,000 after buying an additional 483 shares in the last quarter.
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 consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).
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