Insulet (NASDAQ:PODD) Lowered to Buy at BidaskClub

BidaskClub downgraded shares of Insulet (NASDAQ:PODD) from a strong-buy rating to a buy rating in a research note released on Wednesday, BidAskClub reports.

A number of other analysts have also recently issued reports on the company. Leerink Swann reissued an outperform rating and set a $185.00 target price (up from $160.00) on shares of Insulet in a research note on Tuesday, September 24th. Guggenheim cut Insulet from a buy rating to a neutral rating in a research note on Thursday, October 3rd. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Insulet from $130.00 to $150.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. Piper Jaffray Companies reissued a buy rating on shares of Insulet in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. raised Insulet from a neutral rating to an overweight rating and increased their target price for the stock from $120.00 to $155.00 in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $147.69.

NASDAQ PODD traded up $2.86 during trading hours on Wednesday, reaching $149.35. 503,500 shares of the company’s stock were exchanged, compared to its average volume of 744,547. The company’s 50-day moving average is $154.82 and its two-hundred day moving average is $126.04. Insulet has a one year low of $70.80 and a one year high of $168.98. The company has a debt-to-equity ratio of 2.43, a quick ratio of 3.91 and a current ratio of 4.72. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 2,987.00 and a beta of 1.02.

Insulet (NASDAQ:PODD) last posted its earnings results on Monday, August 5th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Insulet had a return on equity of 7.85% and a net margin of 2.66%. The business had revenue of $177.10 million for the quarter, compared to the consensus estimate of $163.63 million. During the same period in the previous year, the company posted ($0.03) earnings per share. Insulet’s revenue for the quarter was up 42.5% compared to the same quarter last year. Research analysts predict that Insulet will post 0.23 earnings per share for the current fiscal year.

In other news, CEO Shacey Petrovic sold 649 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total value of $98,907.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael P. Spears sold 4,153 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.12, for a total value of $606,836.36. Following the completion of 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 disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jag Capital Management LLC acquired a new stake in shares of Insulet during the third quarter worth $10,546,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Insulet during the third quarter worth $8,197,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Insulet during the third quarter worth $990,000. Brinker Capital Inc. increased its position in shares of Insulet by 1.4% in the third quarter. Brinker Capital Inc. now owns 5,230 shares of the medical instruments supplier’s stock worth $863,000 after purchasing an additional 73 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Insulet by 6.8% in the third quarter. Stephens Investment Management Group LLC now owns 158,735 shares of the medical instruments supplier’s stock worth $26,180,000 after purchasing an additional 10,039 shares during the period.

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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