Insulet (PODD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Insulet (NASDAQ:PODD) from a sell rating to a hold rating in a report published on Thursday.

According to Zacks, “INSULET CORPORATION is an innovative medical device company dedicated to improving the lives of people with diabetes. The Company’s OmniPod Insulin Management System is a revolutionary, discreet and easy-to-use insulin infusion system that features two easy-to-use components with no tubing and fully-automated cannula insertion. Through the OmniPod System, Insulet seeks to expand the use of continuous subcutaneous insulin infusion (CSII) therapy among people with insulin-dependent diabetes. “

Other analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Insulet from $55.00 to $63.00 and gave the company an equal weight rating in a report on Friday, November 3rd. BidaskClub upgraded shares of Insulet from a sell rating to a hold rating in a report on Friday, January 26th. Leerink Swann reiterated an outperform rating and issued a $74.00 price objective (up previously from $65.00) on shares of Insulet in a report on Thursday, October 12th. Canaccord Genuity upgraded shares of Insulet from a hold rating to a buy rating and increased their price objective for the company from $50.00 to $65.00 in a report on Wednesday, November 1st. Finally, UBS Group upgraded shares of Insulet from a market perform rating to an outperform rating in a report on Monday, January 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $62.53.

Insulet (NASDAQ:PODD) opened at $75.84 on Thursday. The firm has a market cap of $4,412.98, a PE ratio of -151.68 and a beta of 1.59. Insulet has a 12 month low of $38.43 and a 12 month high of $78.65. 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 (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. Insulet had a negative net margin of 6.66% and a negative return on equity of 43.85%. Insulet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. equities analysts anticipate that Insulet will post -0.43 earnings per share for the current fiscal year.

In other news, Director James C. Mullen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $67.45 per share, for a total transaction of $168,625.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in shares of Insulet during the 4th quarter worth approximately $122,000. Equitec Specialists LLC acquired a new stake in shares of Insulet during the 4th quarter worth approximately $145,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Insulet during the 4th quarter worth approximately $188,000. Diversified Trust Co acquired a new stake in shares of Insulet during the 4th quarter worth approximately $218,000. Finally, RNC Capital Management LLC acquired a new stake in shares of Insulet during the 2nd quarter worth approximately $225,000.

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Insulet 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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