Insulet (NASDAQ:PODD) Downgraded by ValuEngine to “Buy”

ValuEngine lowered shares of Insulet (NASDAQ:PODD) from a strong-buy rating to a buy rating in a research note published on Thursday morning, ValuEngine reports.

Several other research analysts have also recently issued reports on the company. Canaccord Genuity reissued a buy rating and issued a $110.00 price objective (up previously from $100.00) on shares of Insulet in a research note on Monday, May 6th. Morgan Stanley increased their price objective on Insulet from $98.00 to $127.00 and gave the company an equal weight rating in a report on Tuesday, July 16th. BTIG Research upgraded Insulet from a neutral rating to a buy rating and set a $115.00 price objective for the company in a report on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on Insulet from $90.00 to $120.00 and gave the company a neutral rating in a report on Thursday, June 27th. Finally, Svb Leerink reiterated an outperform rating on shares of Insulet in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $113.45.

Shares of NASDAQ PODD traded down $1.67 during mid-day trading on Thursday, hitting $120.89. The stock had a trading volume of 460,900 shares, compared to its average volume of 633,054. The company has a debt-to-equity ratio of 2.68, a quick ratio of 3.71 and a current ratio of 4.36. The stock’s 50 day moving average price is $120.21. Insulet has a twelve month low of $70.80 and a twelve month high of $126.71. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 2,417.80 and a beta of 1.12.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The business had revenue of $159.56 million for the quarter, compared to analyst estimates of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. Insulet’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, equities research analysts expect that Insulet will post 0.27 EPS for the current fiscal year.

In other news, Director Sally Crawford sold 28,347 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $108.60, for a total value of $3,078,484.20. Following the transaction, the director now directly owns 28,469 shares in the company, valued at approximately $3,091,733.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shacey Petrovic sold 895 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $113.00, for a total transaction of $101,135.00. Following the completion of the transaction, the insider now owns 95,559 shares in the company, valued at $10,798,167. The disclosure for this sale can be found here. Insiders have sold a total of 41,894 shares of company stock worth $4,524,025 over the last 90 days. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Insulet by 0.3% in the 1st quarter. FMR LLC now owns 8,821,151 shares of the medical instruments supplier’s stock worth $838,802,000 after buying an additional 30,262 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Insulet by 0.9% in the 1st quarter. Primecap Management Co. CA now owns 4,919,472 shares of the medical instruments supplier’s stock worth $467,793,000 after buying an additional 43,214 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Insulet by 15.7% in the 1st quarter. William Blair Investment Management LLC now owns 2,144,988 shares of the medical instruments supplier’s stock worth $203,967,000 after buying an additional 290,790 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Insulet by 12.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,958,736 shares of the medical instruments supplier’s stock worth $186,256,000 after buying an additional 214,033 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Insulet by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,913,428 shares of the medical instruments supplier’s stock worth $181,948,000 after buying an additional 33,828 shares during the last quarter.

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.

Further Reading: Percentage Decliners

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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