Insulet Corp. (PODD) Shares Down 1.7%
Insulet Corp. (NASDAQ:PODD) fell 1.7% during trading on Thursday . The company traded as low as $43.07 and last traded at $43.10, with a volume of 243,668 shares traded. The stock had previously closed at $43.85.
A number of research firms have recently commented on PODD. Canaccord Genuity reaffirmed a “hold” rating on shares of Insulet Corp. in a research report on Saturday, April 30th. Zacks Investment Research raised Insulet Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $46.00 price target (up previously from $41.00) on shares of Insulet Corp. in a research report on Thursday, August 4th. Jefferies Group raised their price target on Insulet Corp. from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $44.00 price target on shares of Insulet Corp. in a research report on Wednesday, June 15th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Insulet Corp. currently has a consensus rating of “Buy” and a consensus price target of $40.92.
The firm’s 50-day moving average price is $34.44 and its 200-day moving average price is $31.76. The company’s market capitalization is $2.45 billion.
Insulet Corp. (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09. During the same period in the prior year, the firm posted ($0.30) earnings per share. The company had revenue of $87.30 million for the quarter, compared to the consensus estimate of $81.10 million. The business’s revenue for the quarter was up 44.2% on a year-over-year basis. Analysts predict that Insulet Corp. will post ($0.44) EPS for the current year.
In other news, Director Regina O. Sommer sold 8,019 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $30.42, for a total value of $243,937.98. Following the completion of the transaction, the director now directly owns 20,330 shares of the company’s stock, valued at $618,438.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley A. Thomas bought 2,975 shares of Insulet Corp. stock in a transaction dated Friday, May 13th. The stock was acquired at an average cost of $26.63 per share, with a total value of $79,224.25. Following the completion of the acquisition, the executive vice president now owns 51,315 shares of the company’s stock, valued at $1,366,518.45. The disclosure for this purchase can be found here.
Other institutional investors have added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in 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. Ashburton Jersey Ltd purchased a new position in shares of Insulet Corp. during the fourth quarter valued at $2,909,000. New York State Common Retirement Fund raised its position in shares of Insulet Corp. by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 85,940 shares of the company’s stock valued at $3,249,000 after buying an additional 2,700 shares during the period. California Public Employees Retirement System raised its position in shares of Insulet Corp. by 16.8% in the fourth quarter. California Public Employees Retirement System now owns 91,700 shares of the company’s stock valued at $3,467,000 after buying an additional 13,200 shares during the period. Finally, Morgan Stanley raised its position in shares of Insulet Corp. by 12.0% in the fourth quarter. Morgan Stanley now owns 766,245 shares of the company’s stock valued at $28,971,000 after buying an additional 82,302 shares during the period.
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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