Brokers Set Expectations for Insulet Corp.’s FY2016 Earnings (PODD)
Insulet Corp. (NASDAQ:PODD) – Investment analysts at Northcoast Research lifted their FY2016 earnings estimates for shares of Insulet Corp. in a research report issued on Monday. Northcoast Research analyst E. Shoger now forecasts that the brokerage will post earnings per share of ($0.32) for the year, up from their previous forecast of ($0.39). Northcoast Research also issued estimates for Insulet Corp.’s Q4 2016 earnings at ($0.01) EPS, Q1 2017 earnings at ($0.12) EPS, Q2 2017 earnings at ($0.04) EPS, Q4 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.13) EPS.
A number of other analysts also recently issued reports on PODD. Canaccord Genuity set a $39.00 price objective on Insulet Corp. and gave the stock a “hold” rating in a research note on Sunday, November 6th. B. Riley began coverage on Insulet Corp. in a research note on Monday, September 26th. They issued a “neutral” rating and a $46.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Insulet Corp. in a research note on Friday, November 4th. Zacks Investment Research downgraded Insulet Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 price objective (up previously from $41.00) on shares of Insulet Corp. in a research note on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Insulet Corp. presently has a consensus rating of “Buy” and a consensus price target of $42.15.
Shares of Insulet Corp. (NASDAQ:PODD) opened at 35.52 on Thursday. The company has a 50-day moving average price of $38.62 and a 200-day moving average price of $36.03. The stock’s market cap is $2.04 billion. Insulet Corp. has a 52 week low of $23.94 and a 52 week high of $45.60.
Insulet Corp. (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. Insulet Corp. had a negative return on equity of 87.46% and a negative net margin of 12.95%. The company earned $94.90 million during the quarter, compared to analyst estimates of $89.75 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the stock. Daruma Capital Management LLC increased its position in shares of Insulet Corp. by 12.7% in the first quarter. Daruma Capital Management LLC now owns 1,483,179 shares of the company’s stock valued at $49,182,000 after buying an additional 166,639 shares during the period. Arrowgrass Capital Partners US LP acquired a new position in shares of Insulet Corp. during the first quarter valued at approximately $5,565,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Insulet Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,410,215 shares of the company’s stock valued at $46,763,000 after buying an additional 4,077 shares during the period. HAP Trading LLC acquired a new position in shares of Insulet Corp. during the second quarter valued at approximately $367,000. Finally, Mitra Capital LLC acquired a new position in shares of Insulet Corp. during the first quarter valued at approximately $1,781,000.
About Insulet Corp.
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).
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