Insulet Corporation (PODD) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Insulet Corporation (NASDAQ:PODD) from a sell rating to a hold rating in a research note published on Thursday.
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. “
A number of other analysts have also recently issued reports on the company. Canaccord Genuity restated a hold rating and set a $50.00 price objective (up from $42.00) on shares of Insulet Corporation in a research report on Tuesday, July 11th. BTIG Research cut Insulet Corporation from a buy rating to a neutral rating in a research report on Monday, July 17th. Barclays PLC started coverage on Insulet Corporation in a research report on Friday, September 15th. They set an overweight rating and a $65.00 price objective on the stock. Jefferies Group LLC restated a buy rating and set a $48.00 price objective on shares of Insulet Corporation in a research report on Friday, July 14th. Finally, BidaskClub upgraded Insulet Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $55.57.
Shares of Insulet Corporation (NASDAQ PODD) traded up 0.07% during trading on Thursday, reaching $60.93. The company had a trading volume of 421,289 shares. The firm’s market capitalization is $3.54 billion. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $61.09. The stock has a 50 day moving average price of $58.06 and a 200 day moving average price of $49.57.
Insulet Corporation (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $110.00 million for the quarter, compared to analysts’ expectations of $106.23 million. Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. Insulet Corporation’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, equities research analysts forecast that Insulet Corporation will post ($0.51) EPS for the current year.
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In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of Insulet Corporation stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of PODD. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Insulet Corporation by 11.4% in the second 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 acquired a new position in Insulet Corporation in the second quarter worth $180,000. Teacher Retirement System of Texas acquired a new position in Insulet Corporation in the first quarter worth $201,000. Diversified Trust Co acquired a new position in Insulet Corporation in the second quarter worth $205,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Insulet Corporation in the first quarter worth $215,000.
About Insulet Corporation
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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