Insulet Co. (PODD) Raised to “Hold” at ValuEngine

Insulet Co. (PODD) Raised to “Hold” at ValuEngine

Insulet Co. (NASDAQ:PODD) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages also recently issued reports on PODD. Oppenheimer Holdings Inc. set a $46.00 price target on shares of Insulet and gave the stock a “hold” rating in a research report on Tuesday, May 9th. William Blair reiterated an “outperform” rating on shares of Insulet in a research note on Thursday, May 25th. Wedbush lifted their price objective on shares of Insulet from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. Jefferies Group LLC lifted their price objective on shares of Insulet from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Finally, B. Riley reiterated a “neutral” rating and issued a $44.00 price objective on shares of Insulet in a research note on Wednesday, March 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Insulet has a consensus rating of “Buy” and an average target price of $45.92.

Shares of Insulet (PODD) traded up 3.07% during midday trading on Friday, reaching $43.63. 429,545 shares of the company’s stock traded hands. Insulet has a 52-week low of $27.62 and a 52-week high of $48.23. The stock has a 50-day moving average price of $41.78 and a 200-day moving average price of $41.09. The stock’s market cap is $2.53 billion.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Monday, May 8th. The medical instruments supplier reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $101.70 million during the quarter, compared to analyst estimates of $97.73 million. Insulet had a negative return on equity of 87.46% and a negative net margin of 12.95%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. Analysts forecast that Insulet will post ($0.48) earnings per share for the current year.

In other Insulet news, EVP Bradley A. Thomas purchased 3,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $38.69 per share, for a total transaction of $116,070.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Lemoine sold 1,282 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $45.15, for a total transaction of $57,882.30. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 8,080 shares of company stock valued at $317,339 and have sold 42,806 shares valued at $1,924,024. Insiders own 1.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Insulet 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 period. FIL Ltd acquired a new stake in shares of Insulet during the fourth quarter worth approximately $37,289,000. Norges Bank acquired a new stake in shares of Insulet during the fourth quarter worth approximately $37,163,000. Arrowpoint Asset Management LLC raised its stake in shares of Insulet by 67.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 970,565 shares of the medical instruments supplier’s stock worth $36,571,000 after buying an additional 390,747 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in shares of Insulet by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,144,875 shares of the medical instruments supplier’s stock worth $49,333,000 after buying an additional 187,630 shares during the period.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PODD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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