Jefferies Group LLC Reaffirms “Buy” Rating for Insulet Corporation (NASDAQ:PODD)

Jefferies Group LLC reissued their buy rating on shares of Insulet Corporation (NASDAQ:PODD) in a report published on Wednesday morning. They currently have a $58.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $48.00. Jefferies Group also issued estimates for Insulet Corporation’s Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at ($0.06) EPS and FY2018 earnings at $0.13 EPS.

PODD has been the subject of several other research reports. Zacks Investment Research raised shares of Insulet Corporation from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Tuesday, July 18th. Piper Jaffray Companies reissued an overweight rating and issued a $47.00 price objective on shares of Insulet Corporation in a research note on Monday, May 22nd. B. Riley reiterated a neutral rating and issued a $44.00 price target on shares of Insulet Corporation in a research note on Sunday, May 14th. BTIG Research downgraded shares of Insulet Corporation from a buy rating to a neutral rating in a research note on Monday, July 17th. Finally, BidaskClub upgraded shares of Insulet Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $50.46.

Insulet Corporation (NASDAQ:PODD) traded down 1.16% during midday trading on Wednesday, hitting $51.92. 484,333 shares of the stock traded hands. Insulet Corporation has a 12-month low of $30.69 and a 12-month high of $55.46. The firm’s market cap is $3.01 billion. The company’s 50-day moving average is $51.26 and its 200 day moving average is $45.15.

Insulet Corporation (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business had revenue of $110 million during the quarter, compared to analyst estimates of $106.23 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Insulet Corporation will post ($0.51) EPS for the current fiscal year.

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In related news, SVP Michael P. Spears acquired 2,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $40.59 per share, with a total value of $101,475.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Insulet Corporation by 7,285.2% in the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock worth $180,724,000 after buying an additional 4,137,326 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Insulet Corporation by 64.2% in the first quarter. Clearbridge Investments LLC now owns 2,379,224 shares of the medical instruments supplier’s stock worth $102,521,000 after buying an additional 930,062 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Insulet Corporation by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,144,875 shares of the medical instruments supplier’s stock worth $49,333,000 after buying an additional 187,630 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Insulet Corporation 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. Finally, Vanguard Group Inc. boosted its stake in Insulet Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock worth $196,355,000 after buying an additional 184,465 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).

Analyst Recommendations for Insulet Corporation (NASDAQ:PODD)

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