Oppenheimer Holdings, Inc. restated their hold rating on shares of Insulet Corporation (NASDAQ:PODD) in a research note released on Saturday, July 22nd.
Other research analysts have also issued reports about the stock. Jefferies Group LLC reissued a buy rating and set a $53.00 price target on shares of Insulet Corporation in a research report on Thursday, April 13th. BTIG Research upgraded shares of Insulet Corporation from a neutral rating to a buy rating and set a $47.00 price objective for the company in a report on Wednesday, May 10th. Northland Securities restated a buy rating and set a $50.00 price objective on shares of Insulet Corporation in a report on Tuesday, May 9th. Cowen and Company reiterated a buy rating and issued a $52.00 target price on shares of Insulet Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Insulet Corporation from a hold rating to a buy rating and set a $57.00 target price for the company in a research note on Tuesday, July 18th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Insulet Corporation currently has a consensus rating of Buy and an average price target of $50.46.
Shares of Insulet Corporation (NASDAQ:PODD) traded up 0.66% during mid-day trading on Friday, reaching $54.94. The company had a trading volume of 193,544 shares. The company’s 50-day moving average price is $51.79 and its 200-day moving average price is $45.52. Insulet Corporation has a 52-week low of $30.69 and a 52-week high of $55.92. The company’s market capitalization is $3.19 billion.
Insulet Corporation (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The firm had revenue of $110 million for the quarter, compared to analyst estimates of $106.23 million. During the same period last year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts forecast that Insulet Corporation will post ($0.50) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of PODD. FMR LLC increased its position in shares of Insulet Corporation by 0.5% in the second quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock worth $445,755,000 after buying an additional 39,836 shares during the last quarter. Capital Research Global Investors increased its position in shares of Insulet Corporation by 2.5% in the second quarter. Capital Research Global Investors now owns 5,883,633 shares of the medical instruments supplier’s stock worth $301,889,000 after buying an additional 145,724 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Insulet Corporation by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,655,119 shares of the medical instruments supplier’s stock worth $238,854,000 after buying an additional 98,272 shares during the last quarter. BlackRock Inc. increased its position in shares of 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. Finally, Clearbridge Investments LLC increased its position in shares of 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.
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).
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