Shares of Insulet Corporation (NASDAQ:PODD) reached a new 52-week high during trading on Thursday . The stock traded as high as $55.67 and last traded at $55.71, with a volume of 109,059 shares changing hands. The stock had previously closed at $54.99.
Several research firms recently commented on PODD. B. Riley reiterated a “neutral” rating and issued a $44.00 price target on shares of Insulet Corporation in a research report on Tuesday, May 9th. Oppenheimer Holdings, Inc. set a $55.00 price target on shares of Insulet Corporation and gave the company a “hold” rating in a research report on Friday, August 4th. William Blair reiterated an “outperform” rating on shares of Insulet Corporation in a research report on Thursday, May 25th. BTIG Research upgraded shares of Insulet Corporation from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, May 10th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $50.00 price target (up previously from $42.00) on shares of Insulet Corporation in a research report on Tuesday, July 11th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Insulet Corporation currently has an average rating of “Buy” and an average price target of $50.46.
The company has a 50-day moving average price of $51.68 and a 200 day moving average price of $45.45. The stock’s market capitalization is $3.19 billion.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, meeting the 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 company had revenue of $110 million during the quarter, compared to the consensus estimate of $106.23 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Analysts expect that Insulet Corporation will post ($0.50) earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Insulet Corporation by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock worth $118,000 after buying an additional 235 shares in the last quarter. Strs Ohio boosted its stake in shares of Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock worth $172,000 after buying an additional 1,700 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Insulet Corporation during the second quarter worth $180,000. Teacher Retirement System of Texas bought a new stake in shares of Insulet Corporation during the first quarter worth $201,000. Finally, Diversified Trust Co bought a new stake in shares of Insulet Corporation during the second quarter worth $205,000.
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Insulet Corporation Company Profile
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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