Wedbush reissued their buy rating on shares of Insulet Corporation (NASDAQ:PODD) in a report released on Tuesday. Wedbush currently has a $65.00 price target on the medical instruments supplier’s stock, up from their prior price target of $60.00.

Several other brokerages have also issued reports on PODD. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Insulet Corporation in a research report on Saturday, July 22nd. Zacks Investment Research downgraded Insulet Corporation from a hold rating to a sell rating in a research note on Thursday, October 5th. Jefferies Group LLC reiterated a buy rating and set a $48.00 price target on shares of Insulet Corporation in a research note on Friday, July 14th. Northland Securities reiterated a buy rating on shares of Insulet Corporation in a research note on Friday, August 4th. Finally, Cowen and Company reiterated a buy rating and set a $52.00 price target on shares of Insulet Corporation in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $52.57.

Insulet Corporation (PODD) traded up 1.066% during midday trading on Tuesday, hitting $60.205. The company had a trading volume of 53,698 shares. The stock has a 50 day moving average price of $57.77 and a 200-day moving average price of $49.22. Insulet Corporation has a 52 week low of $30.69 and a 52 week high of $60.24. The stock’s market capitalization is $3.50 billion.

Insulet Corporation (NASDAQ:PODD) last announced its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The company had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts predict that Insulet Corporation will post ($0.51) EPS for the current year.

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In other news, EVP Charles Alpuche bought 2,500 shares of Insulet Corporation stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PODD. BlackRock Inc. raised its holdings in shares of Insulet Corporation by 7,285.2% during the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock valued at $180,724,000 after acquiring an additional 4,137,326 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Insulet Corporation by 64.2% during the first quarter. Clearbridge Investments LLC now owns 2,379,224 shares of the medical instruments supplier’s stock valued at $102,521,000 after acquiring an additional 930,062 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Insulet Corporation during the second quarter valued at approximately $27,428,000. Lord Abbett & CO. LLC raised its holdings in shares of Insulet Corporation by 29.6% during the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock valued at $43,013,000 after acquiring an additional 191,217 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in shares of Insulet Corporation by 19.6% during the first quarter. Champlain Investment Partners LLC now owns 1,144,875 shares of the medical instruments supplier’s stock valued at $49,333,000 after acquiring an additional 187,630 shares during the last quarter.

Insulet Corporation 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 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).

Analyst Recommendations for Insulet Corporation (NASDAQ:PODD)

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