Insulet Co. (NASDAQ:PODD) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $47.00 price target on the medical instruments supplier’s stock. BTIG Research’s price target would suggest a potential upside of 20.17% from the company’s previous close.
PODD has been the subject of several other reports. Canaccord Genuity set a $39.00 price objective on Insulet and gave the stock a “hold” rating in a research note on Monday, January 23rd. Zacks Investment Research lowered Insulet from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. Feltl & Co. lowered Insulet from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Jefferies Group LLC raised their price objective on Insulet from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Finally, Wedbush raised their target price on Insulet from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.08.
Insulet (NASDAQ:PODD) traded up 1.51% during midday trading on Wednesday, reaching $39.70. The company had a trading volume of 33,350 shares. The firm’s market capitalization is $2.29 billion. Insulet has a 12 month low of $26.50 and a 12 month high of $48.23. The firm’s 50-day moving average price is $42.17 and its 200 day moving average price is $40.50.
Insulet (NASDAQ:PODD) last released its quarterly earnings data on Monday, May 8th. The medical instruments supplier reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.01. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $97.73 million. Insulet had a negative return on equity of 87.46% and a negative net margin of 12.95%. The business’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) earnings per share. Equities analysts anticipate that Insulet will post ($0.47) earnings per share for the current fiscal year.
In related news, Director Joseph S. Zakrzewski sold 40,000 shares of Insulet stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $46.86, for a total transaction of $1,874,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Lemoine sold 1,524 shares of Insulet stock in a transaction on Monday, May 1st. The shares were sold at an average price of $43.40, for a total value of $66,141.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,806 shares of company stock valued at $3,798,424. Insiders own 1.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PODD. FIL Ltd purchased a new stake in Insulet during the fourth quarter worth about $37,289,000. Norges Bank purchased a new stake in Insulet during the fourth quarter worth about $37,163,000. Arrowpoint Asset Management LLC boosted its stake in Insulet by 67.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 970,565 shares of the medical instruments supplier’s stock worth $36,571,000 after buying an additional 390,747 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Insulet by 53.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,078,215 shares of the medical instruments supplier’s stock worth $44,142,000 after buying an additional 376,531 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Insulet by 11.9% in the first quarter. Frontier Capital Management Co. LLC now owns 1,759,454 shares of the medical instruments supplier’s stock worth $75,815,000 after buying an additional 187,577 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 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).