BidaskClub upgraded shares of Insulet (NASDAQ:PODD) from a hold rating to a buy rating in a research note released on Thursday morning.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley increased their price target on Insulet from $87.00 to $96.00 and gave the stock an equal weight rating in a research report on Friday, June 1st. Jefferies Financial Group reissued a buy rating and set a $97.00 price target on shares of Insulet in a research report on Friday, August 3rd. Zacks Investment Research raised Insulet from a hold rating to a strong-buy rating and set a $101.00 price objective on the stock in a research report on Tuesday, July 24th. Piper Jaffray Companies raised their price objective on Insulet to $106.00 and gave the company an overweight rating in a research report on Monday, June 4th. Finally, Oppenheimer set a $90.00 price objective on Insulet and gave the company a hold rating in a research report on Friday, May 4th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $91.94.

PODD opened at $102.58 on Thursday. Insulet has a 12-month low of $54.55 and a 12-month high of $102.89. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.01 and a current ratio of 5.54. The firm has a market cap of $5.87 billion, a PE ratio of -223.00 and a beta of 1.41.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Insulet had a negative return on equity of 11.91% and a negative net margin of 3.47%. The business had revenue of $124.26 million for the quarter, compared to the consensus estimate of $132.89 million. During the same quarter in the prior year, the company earned ($0.13) EPS. The business’s revenue was up 13.2% compared to the same quarter last year. equities analysts expect that Insulet will post -0.1 EPS for the current year.

In related news, EVP Aiman Abdel-Malek sold 602 shares of Insulet stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $86.60, for a total transaction of $52,133.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael P. Spears sold 7,496 shares of Insulet stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $100.00, for a total value of $749,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,141 shares of company stock valued at $1,235,835. Company insiders own 3.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Insulet by 129.6% in the second quarter. Public Employees Retirement System of Ohio now owns 45,513 shares of the medical instruments supplier’s stock valued at $3,900,000 after acquiring an additional 25,690 shares during the period. Verition Fund Management LLC acquired a new stake in Insulet in the 2nd quarter worth about $1,095,000. Granahan Investment Management Inc. MA acquired a new stake in Insulet in the 2nd quarter worth about $320,000. Putnam Investments LLC raised its stake in Insulet by 2.1% in the 2nd quarter. Putnam Investments LLC now owns 29,224 shares of the medical instruments supplier’s stock worth $2,505,000 after purchasing an additional 599 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Insulet by 87.4% in the 2nd quarter. Millennium Management LLC now owns 532,109 shares of the medical instruments supplier’s stock worth $45,602,000 after purchasing an additional 248,108 shares in the last quarter.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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