Insulet (NASDAQ:PODD) Downgraded to “Neutral” at UBS Group

UBS Group downgraded shares of Insulet (NASDAQ:PODD) from a buy rating to a neutral rating in a research report sent to investors on Friday, BenzingaRatingsTable reports. The firm currently has $160.00 price target on the medical instruments supplier’s stock, up from their previous price target of $155.00. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the company. Raymond James increased their price objective on Insulet from $125.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Svb Leerink increased their price objective on Insulet from $160.00 to $185.00 and gave the company an outperform rating in a report on Tuesday, September 24th. BMO Capital Markets increased their price objective on Insulet from $130.00 to $150.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Guggenheim downgraded Insulet from a buy rating to a neutral rating in a research report on Thursday. They noted that the move was a valuation call. Finally, Canaccord Genuity upped their target price on Insulet from $110.00 to $135.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $144.64.

Shares of PODD traded down $3.09 during midday trading on Friday, hitting $155.60. 764,953 shares of the company’s stock traded hands, compared to its average volume of 747,392. Insulet has a 1 year low of $70.80 and a 1 year high of $168.98. The firm’s fifty day moving average is $154.29 and its 200-day moving average is $120.59. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 3,112.00 and a beta of 1.02.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Insulet had a net margin of 2.66% and a return on equity of 7.85%. The business had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $163.63 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 42.5% on a year-over-year basis. On average, equities research analysts anticipate that Insulet will post 0.23 EPS for the current year.

In other Insulet news, SVP Michael P. Spears sold 4,153 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.12, for a total transaction of $606,836.36. Following the sale, the senior vice president now directly owns 22,626 shares of the company’s stock, valued at approximately $3,306,111.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shacey Petrovic sold 649 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total value of $98,907.60. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC acquired a new stake in Insulet during the 2nd quarter worth about $38,000. Harvest Fund Management Co. Ltd acquired a new stake in Insulet during the 2nd quarter worth about $43,000. Meridian Wealth Management LLC acquired a new stake in Insulet during the 1st quarter worth about $48,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Insulet during the 2nd quarter worth about $97,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Insulet during the 2nd quarter worth about $119,000.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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