Barclays Reiterates Buy Rating for Insulet (PODD)

Barclays reissued their buy rating on shares of Insulet (NASDAQ:PODD) in a research note issued to investors on Wednesday. They currently have a $78.00 price target on the medical instruments supplier’s stock.

PODD has been the topic of a number of other reports. Jefferies Group raised their price target on Insulet from $58.00 to $67.00 and gave the company a buy rating in a report on Friday, November 3rd. Canaccord Genuity raised Insulet from a hold rating to a buy rating and raised their price target for the company from $50.00 to $65.00 in a report on Wednesday, November 1st. Zacks Investment Research cut Insulet from a buy rating to a hold rating in a report on Saturday, November 11th. BidaskClub raised Insulet from a buy rating to a strong-buy rating in a report on Friday, August 25th. Finally, Leerink Swann reissued an outperform rating and set a $74.00 price target (up from $65.00) on shares of Insulet in a report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $61.29.

Insulet (PODD) opened at $68.45 on Wednesday. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65. Insulet has a 52-week low of $36.80 and a 52-week high of $72.99.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. Insulet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. analysts anticipate that Insulet will post -0.42 earnings per share for the current year.

In other news, Director James C. Mullen bought 2,500 shares of Insulet stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $67.45 per share, with a total value of $168,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Several hedge funds have recently modified their holdings of PODD. Russell Investments Group Ltd. increased its stake in Insulet by 19.9% during the second quarter. Russell Investments Group Ltd. now owns 29,054 shares of the medical instruments supplier’s stock worth $1,491,000 after acquiring an additional 4,824 shares during the last quarter. Strs Ohio increased its stake in Insulet by 35.0% during the second quarter. Strs Ohio now owns 5,400 shares of the medical instruments supplier’s stock worth $277,000 after acquiring an additional 1,400 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Insulet by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 252,670 shares of the medical instruments supplier’s stock worth $12,965,000 after acquiring an additional 8,399 shares during the last quarter. Wrapmanager Inc. bought a new stake in Insulet during the second quarter worth approximately $217,000. Finally, SG Americas Securities LLC bought a new stake in Insulet during the second quarter worth approximately $180,000.

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About Insulet

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 (NASDAQ:PODD)

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