Leerink Swann Comments on Insulet Corp.’s Q1 2017 Earnings (PODD)
Insulet Corp. (NASDAQ:PODD) – Equities research analysts at Leerink Swann cut their Q1 2017 earnings per share (EPS) estimates for Insulet Corp. in a report released on Thursday. Leerink Swann analyst D. Antalffy now forecasts that the brokerage will earn ($0.11) per share for the quarter, down from their prior forecast of ($0.10). Leerink Swann has a “Outperform” rating and a $50.00 price target on the stock. Leerink Swann also issued estimates for Insulet Corp.’s Q2 2017 earnings at ($0.03) EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.03 EPS, FY2017 earnings at ($0.11) EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.09 EPS and FY2019 earnings at $0.57 EPS.
Insulet Corp. (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $89.75 million. Insulet Corp. had a negative return on equity of 87.46% and a negative net margin of 12.95%. Insulet Corp.’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) EPS.
A number of other equities analysts have also weighed in on PODD. Canaccord Genuity set a $39.00 target price on Insulet Corp. and gave the stock a “hold” rating in a research note on Sunday, November 6th. B. Riley initiated coverage on Insulet Corp. in a research note on Monday, September 26th. They set a “neutral” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. reiterated a “hold” rating and set a $38.00 target price on shares of Insulet Corp. in a research note on Friday, November 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $46.00 target price (up previously from $41.00) on shares of Insulet Corp. in a research note on Thursday, August 4th. Finally, Jefferies Group increased their target price on Insulet Corp. from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $42.15.
Shares of Insulet Corp. (NASDAQ:PODD) opened at 37.99 on Monday. The company has a 50-day moving average price of $37.68 and a 200 day moving average price of $36.28. The firm’s market cap is $2.18 billion. Insulet Corp. has a 52 week low of $23.94 and a 52 week high of $45.60.
Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in shares of Insulet Corp. by 8.0% in the first quarter. Prudential Financial Inc. now owns 19,002 shares of the company’s stock valued at $630,000 after buying an additional 1,400 shares during the last quarter. State Street Corp increased its position in shares of Insulet Corp. by 2.3% in the first quarter. State Street Corp now owns 981,066 shares of the company’s stock valued at $32,531,000 after buying an additional 21,681 shares during the last quarter. 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 last quarter. BNP Paribas Arbitrage SA increased its position in shares of Insulet Corp. by 113.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,691 shares of the company’s stock valued at $112,000 after buying an additional 1,962 shares during the last quarter. Finally, Moreno Evelyn V bought a new position in shares of Insulet Corp. during the second quarter valued at approximately $1,126,000.
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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