Insulet Corporation (NASDAQ:PODD) Earns “Buy” Rating from Northland Securities

Northland Securities reiterated their buy rating on shares of Insulet Corporation (NASDAQ:PODD) in a report published on Friday morning.

“Epizyme’s loss per share of $0.48 was less than our estimated $0.66. This resulted from higher than estimated revenue, which was $10 million compared to our estimated $0.6 million, and resulted from a milestone payment. Expenses were in line with expectations. Our outlook for 2017-22 remains basically unchanged. We are adjusting our 2017 estimates to reflect the milestone payment in this quarter.”,” the firm’s analyst wrote.

Several other equities research analysts also recently weighed in on PODD. B. Riley restated a neutral rating and set a $44.00 price target on shares of Insulet Corporation in a report on Tuesday, May 9th. Cowen and Company restated an outperform rating and set a $63.00 price target (up previously from $52.00) on shares of Insulet Corporation in a report on Friday. BidaskClub downgraded Insulet Corporation from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Jefferies Group LLC cut their price target on Insulet Corporation from $53.00 to $48.00 and set a buy rating on the stock in a report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. set a $46.00 price target on Insulet Corporation and gave the stock a hold rating in a report on Tuesday, May 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $49.69.

Insulet Corporation (NASDAQ:PODD) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). Insulet Corporation had a negative return on equity of 46.88% and a negative net margin of 7.30%. The firm had revenue of $110 million for the quarter, compared to analyst estimates of $106.23 million. During the same quarter in the prior year, the company earned ($0.08) EPS. Insulet Corporation’s revenue was up 26.0% on a year-over-year basis.

In other news, SVP Michael P. Spears purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $40.59 per share, for a total transaction of $101,475.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jessica Hopfield purchased 2,580 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average price of $38.68 per share, for a total transaction of $99,794.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,080 shares of company stock worth $317,339 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC bought a new stake in Insulet Corporation during the fourth quarter worth $266,000. AQR Capital Management LLC boosted its stake in Insulet Corporation by 57.6% in the fourth quarter. AQR Capital Management LLC now owns 13,423 shares of the medical instruments supplier’s stock worth $506,000 after buying an additional 4,905 shares during the last quarter. Teachers Advisors LLC boosted its stake in Insulet Corporation by 1.0% in the fourth quarter. Teachers Advisors LLC now owns 350,439 shares of the medical instruments supplier’s stock worth $13,205,000 after buying an additional 3,522 shares during the last quarter. Parametrica Management Ltd bought a new stake in Insulet Corporation during the first quarter worth $350,000. Finally, Nationwide Fund Advisors boosted its stake in Insulet Corporation by 238.8% in the first quarter. Nationwide Fund Advisors now owns 122,304 shares of the medical instruments supplier’s stock worth $5,270,000 after buying an additional 86,210 shares during the last quarter.

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).