Insulet Corp. (PODD) Hits New 12-Month High at $44.43
Insulet Corp. (NASDAQ:PODD)’s share price hit a new 52-week high on Monday . The company traded as high as $44.43 and last traded at $44.42, with a volume of 179,902 shares traded. The stock had previously closed at $42.99.
PODD has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $44.00 price target on shares of Insulet Corp. in a research report on Friday, May 20th. Zacks Investment Research raised shares of Insulet Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, August 9th. 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 upped their price target on shares of Insulet Corp. from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, William Blair raised shares of Insulet Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, April 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.42.
The firm has a 50-day moving average of $35.74 and a 200-day moving average of $31.99. The firm’s market capitalization is $2.54 billion.
Insulet Corp. (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.09. The business earned $87.30 million during the quarter, compared to analyst estimates of $81.10 million. During the same period in the prior year, the business posted ($0.30) EPS. Insulet Corp.’s revenue was up 44.2% compared to the same quarter last year. Analysts anticipate that Insulet Corp. will post ($0.44) earnings per share for the current fiscal year.
In other news, Director Regina O. Sommer sold 8,019 shares of the firm’s stock in a transaction dated 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 in the company, valued at $618,438.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted 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 last quarter. California Public Employees Retirement System boosted 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 last quarter. Finally, New York State Common Retirement Fund boosted 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 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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