Insulet (PODD) Downgraded by BidaskClub
BidaskClub downgraded shares of Insulet (NASDAQ:PODD) from a buy rating to a hold rating in a research note released on Saturday morning.
Several other equities research analysts have also recently weighed in on the company. Barclays upped their price target on Insulet from $70.00 to $75.00 and gave the company an overweight rating in a research report on Monday, November 20th. Zacks Investment Research cut Insulet from a buy rating to a hold rating in a research report on Saturday, November 11th. Morgan Stanley upped their price objective on shares of Insulet from $55.00 to $63.00 and gave the stock an equal weight rating in a research report on Friday, November 3rd. Jefferies Group upped their price objective on shares of Insulet from $58.00 to $67.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Finally, Robert W. Baird upped their price objective on shares of Insulet from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $61.07.
Shares of Insulet (PODD) opened at $69.49 on Friday. Insulet has a 52-week low of $35.12 and a 52-week high of $72.99. The company has a debt-to-equity ratio of 4.65, a quick ratio of 4.42 and a current ratio of 4.88.
Insulet (NASDAQ:PODD) last announced its quarterly 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. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The firm had revenue of $121.80 million for the quarter, compared to analysts’ expectations of $114.02 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was up 28.4% on a year-over-year basis. equities analysts anticipate that Insulet will post -0.42 earnings per share for the current year.
In related news, Director James C. Mullen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $67.45 per share, for a total transaction of $168,625.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in Insulet in the third quarter worth approximately $1,414,000. California Public Employees Retirement System boosted its stake in Insulet by 9.2% in the third quarter. California Public Employees Retirement System now owns 71,744 shares of the medical instruments supplier’s stock worth $3,952,000 after buying an additional 6,044 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Insulet in the third quarter worth approximately $3,229,000. Cubist Systematic Strategies LLC purchased a new stake in Insulet in the third quarter worth approximately $406,000. Finally, Point72 Asset Management L.P. purchased a new stake in Insulet in the third quarter worth approximately $33,373,000.
ILLEGAL ACTIVITY WARNING: This article was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://theolympiareport.com/2017/12/06/insulet-podd-downgraded-by-bidaskclub.html.
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).
Receive News & Ratings for Insulet Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.