Insulet Corp. (NASDAQ:PODD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

PODD has been the topic of several other research reports. BTIG Research raised shares of Insulet Corp. from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Friday, November 4th. Canaccord Genuity reissued a “hold” rating and set a $36.00 price objective on shares of Insulet Corp. in a research note on Friday, August 5th. Wedbush reissued an “outperform” rating and set a $44.00 price objective on shares of Insulet Corp. in a research note on Wednesday, July 20th. Piper Jaffray Cos. reissued an “overweight” rating and set a $41.00 price objective on shares of Insulet Corp. in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $38.00 target price on shares of Insulet Corp. in a research note on Friday, November 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $42.15.

Analyst Recommendations for Insulet Corp. (NASDAQ:PODD)

Shares of Insulet Corp. (NASDAQ:PODD) opened at 36.21 on Wednesday. The stock’s 50 day moving average is $38.88 and its 200 day moving average is $36.03. Insulet Corp. has a 52 week low of $23.94 and a 52 week high of $45.60. The stock’s market cap is $2.08 billion.

Insulet Corp. (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. Insulet Corp. had a negative net margin of 12.95% and a negative return on equity of 87.46%. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $89.75 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Insulet Corp.’s quarterly revenue was up 32.5% on a year-over-year basis. On average, equities analysts forecast that Insulet Corp. will post ($0.37) EPS for the current year.

A number of hedge funds have recently made changes to their positions in PODD. Geneva Advisors LLC boosted its stake in shares of Insulet Corp. by 0.3% in the second quarter. Geneva Advisors LLC now owns 19,923 shares of the company’s stock worth $602,000 after buying an additional 59 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Insulet Corp. by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,673 shares of the company’s stock worth $232,000 after buying an additional 71 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Insulet Corp. by 1.6% in the second quarter. ProShare Advisors LLC now owns 7,055 shares of the company’s stock worth $213,000 after buying an additional 108 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Insulet Corp. by 2.4% in the second quarter. Sei Investments Co. now owns 8,452 shares of the company’s stock worth $255,000 after buying an additional 201 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Insulet Corp. by 2.3% in the third quarter. Virginia Retirement Systems ET AL now owns 13,500 shares of the company’s stock worth $553,000 after buying an additional 300 shares in the last quarter.

Insulet Corp. 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 consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).

5 Day Chart for NASDAQ:PODD

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