Insulet Corporation (PODD) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Insulet Corporation (NASDAQ:PODD) from a hold rating to a sell rating in a report issued on Thursday morning.
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 subject of a number of other reports. Canaccord Genuity reaffirmed a hold rating and set a $50.00 price objective on shares of Insulet Corporation in a research report on Wednesday, September 27th. Barclays PLC assumed coverage on shares of Insulet Corporation in a research report on Friday, September 15th. They set an overweight rating and a $65.00 price objective for the company. BidaskClub raised shares of Insulet Corporation from a buy rating to a strong-buy rating in a research report on Friday, August 25th. Jefferies Group LLC reaffirmed a buy rating and set a $58.00 price objective (up from $48.00) on shares of Insulet Corporation in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. set a $55.00 price objective on shares of Insulet Corporation and gave the stock a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $51.50.
Shares of Insulet Corporation (PODD) opened at 58.83 on Thursday. The firm has a 50-day moving average of $57.54 and a 200-day moving average of $48.88. The company’s market capitalization is $3.42 billion. Insulet Corporation has a one year low of $30.69 and a one year high of $59.99.
Insulet Corporation (NASDAQ:PODD) last issued its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The business had revenue of $110.00 million for the quarter, compared to the consensus estimate of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share. Equities research analysts expect that Insulet Corporation will post ($0.51) EPS for the current fiscal year.
In other Insulet Corporation news, EVP Charles Alpuche bought 2,500 shares of Insulet Corporation stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $58.08 per share, with a total value of $145,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in PODD. Strs Ohio boosted its position in shares of Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock valued at $172,000 after acquiring an additional 1,700 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Insulet Corporation by 943.0% in the first quarter. Russell Investments Group Ltd. now owns 24,230 shares of the medical instruments supplier’s stock valued at $1,044,000 after acquiring an additional 21,907 shares during the period. Swiss National Bank boosted its position in shares of Insulet Corporation by 1.9% in the first quarter. Swiss National Bank now owns 94,300 shares of the medical instruments supplier’s stock valued at $4,063,000 after acquiring an additional 1,800 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Insulet Corporation by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 192,168 shares of the medical instruments supplier’s stock valued at $8,281,000 after acquiring an additional 3,775 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Insulet Corporation in the first quarter valued at about $215,000.
About Insulet Corporation
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 features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Insulet Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet Corporation and related stocks with our FREE daily email newsletter.