Insulet Corp. (PODD) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Insulet Corp. (NASDAQ:PODD)‘s stock had its “hold” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued on Thursday. They currently have a $38.00 target price on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 2.18% from the company’s previous close.
A number of other research firms also recently weighed in on PODD. B. Riley started coverage on Insulet Corp. in a report on Sunday, October 2nd. They issued a “neutral” rating and a $46.00 target price on the stock. Leerink Swann reissued an “outperform” rating and issued a $50.00 target price (up previously from $40.00) on shares of Insulet Corp. in a report on Thursday, August 4th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $41.00 target price on shares of Insulet Corp. in a report on Wednesday, July 20th. Zacks Investment Research cut Insulet Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Finally, Canaccord Genuity set a $39.00 price target on Insulet Corp. and gave the stock a “hold” rating in a research report on Sunday, November 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $42.15.
Shares of Insulet Corp. (NASDAQ:PODD) opened at 37.19 on Thursday. The stock’s 50 day moving average price is $37.77 and its 200-day moving average price is $36.12. The company’s market cap is $2.14 billion. Insulet Corp. has a 12 month low of $23.94 and a 12 month high of $45.60.
Insulet Corp. (NASDAQ:PODD) last posted its earnings results on Thursday, November 3rd. The company reported ($0.05) earnings per share for the quarter, beating 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 had revenue of $94.90 million for the quarter, compared to the consensus estimate of $89.75 million. During the same quarter in the prior year, the company earned ($0.33) earnings per share. Insulet Corp.’s revenue was up 32.5% on a year-over-year basis. Equities research analysts expect that Insulet Corp. will post ($0.37) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Bamco Inc. NY bought a new stake in Insulet Corp. during the third quarter valued at about $206,000. Panagora Asset Management Inc. raised its stake in Insulet Corp. by 675.7% in the third quarter. Panagora Asset Management Inc. now owns 89,915 shares of the company’s stock valued at $3,681,000 after buying an additional 78,324 shares during the last quarter. Capital Research Global Investors raised its stake in Insulet Corp. by 0.7% in the third quarter. Capital Research Global Investors now owns 5,175,033 shares of the company’s stock valued at $211,866,000 after buying an additional 37,000 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Insulet Corp. by 53.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,078,215 shares of the company’s stock valued at $44,142,000 after buying an additional 376,531 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Insulet Corp. during the third quarter valued at about $1,603,000.
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).
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