Insulet Co. (NASDAQ:PODD) Given Consensus Recommendation of “Buy” by Analysts

Insulet Co. (NASDAQ:PODD) has been assigned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $143.33.

A number of research firms have issued reports on PODD. ValuEngine downgraded Insulet from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. 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. 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. Raymond James increased their target price on Insulet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, Leerink Swann reissued an “outperform” rating and issued a $185.00 target price (up from $160.00) on shares of Insulet in a research note on Tuesday, September 24th.

PODD opened at $153.39 on Monday. The stock has a fifty day simple moving average of $154.86 and a two-hundred day simple moving average of $122.58. 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 company has a market cap of $9.33 billion, a price-to-earnings ratio of 3,067.80 and a beta of 1.02. Insulet has a 12-month low of $70.80 and a 12-month high of $168.98.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data 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). The firm had revenue of $177.10 million during the quarter, compared to the consensus estimate of $163.63 million. Insulet had a return on equity of 7.85% and a net margin of 2.66%. Insulet’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. On average, analysts predict that Insulet will post 0.23 EPS for the current year.

In related news, CEO Shacey Petrovic sold 649 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total transaction of $98,907.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael P. Spears sold 4,153 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 22,626 shares in the company, valued at $3,306,111.12. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PODD. Marshall Wace North America L.P. purchased a new position in Insulet in the second quarter worth about $87,481,000. Nuveen Asset Management LLC raised its stake in shares of Insulet by 1,731.6% in the second quarter. Nuveen Asset Management LLC now owns 355,561 shares of the medical instruments supplier’s stock worth $42,447,000 after buying an additional 336,148 shares during the period. Rock Springs Capital Management LP bought a new position in shares of Insulet in the second quarter worth about $29,188,000. William Blair Investment Management LLC raised its stake in shares of Insulet by 8.8% in the second quarter. William Blair Investment Management LLC now owns 2,334,135 shares of the medical instruments supplier’s stock worth $278,649,000 after buying an additional 189,147 shares during the period. Finally, Kornitzer Capital Management Inc. KS bought a new position in shares of Insulet in the second quarter worth about $21,550,000.

About Insulet

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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