Insulet (NASDAQ:PODD) Cut to “Buy” at BidaskClub

BidaskClub downgraded shares of Insulet (NASDAQ:PODD) from a strong-buy rating to a buy rating in a research note released on Wednesday, BidAskClub reports.

A number of other research firms also recently weighed in on PODD. Svb Leerink increased their price target on shares of Insulet from $160.00 to $185.00 and gave the stock an outperform rating in a research note on Tuesday, September 24th. Cowen set a $165.00 target price on shares of Insulet and gave the company a buy rating in a research note on Monday, October 21st. BTIG Research downgraded shares of Insulet from a buy rating to a neutral rating in a research note on Monday, October 14th. Leerink Swann reissued an outperform rating and issued a $185.00 target price (up previously from $160.00) on shares of Insulet in a research note on Tuesday, September 24th. Finally, Raymond James raised their target price on shares of Insulet from $135.00 to $158.00 and gave the company an outperform rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $153.47.

NASDAQ:PODD traded up $2.37 during trading hours on Wednesday, reaching $175.65. 526,737 shares of the company were exchanged, compared to its average volume of 855,163. The company has a debt-to-equity ratio of 6.55, a current ratio of 7.01 and a quick ratio of 6.21. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 3,513.00 and a beta of 1.04. Insulet has a 52-week low of $70.80 and a 52-week high of $187.25. The stock has a 50 day simple moving average of $170.54 and a 200 day simple moving average of $144.96.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). The company had revenue of $192.12 million for the quarter, compared to analysts’ expectations of $179.50 million. Insulet had a return on equity of 10.34% and a net margin of 2.38%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. On average, analysts predict that Insulet will post 0.26 EPS for the current fiscal year.

In related news, CEO Shacey Petrovic sold 689 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $145.69, for a total transaction of $100,380.41. Following the completion of the sale, the chief executive officer now directly owns 94,510 shares of the company’s stock, valued at approximately $13,769,161.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John A. Fallon sold 14,525 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $181.21, for a total transaction of $2,632,075.25. 3.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY grew its holdings in Insulet by 1.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,372 shares of the medical instruments supplier’s stock worth $721,000 after acquiring an additional 68 shares in the last quarter. Brinker Capital Inc. lifted its position in Insulet by 1.4% in the 3rd quarter. Brinker Capital Inc. now owns 5,230 shares of the medical instruments supplier’s stock valued at $863,000 after purchasing an additional 73 shares during the last quarter. Bamco Inc. NY lifted its position in Insulet by 3.3% in the 2nd quarter. Bamco Inc. NY now owns 3,112 shares of the medical instruments supplier’s stock valued at $372,000 after purchasing an additional 100 shares during the last quarter. BB&T Securities LLC lifted its position in Insulet by 2.2% in the 3rd quarter. BB&T Securities LLC now owns 8,352 shares of the medical instruments supplier’s stock valued at $1,375,000 after purchasing an additional 183 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Insulet by 5.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,082 shares of the medical instruments supplier’s stock valued at $673,000 after purchasing an additional 196 shares during the last quarter.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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