Insulet (NASDAQ:PODD) Downgraded to Equal Weight Rating by Barclays

Insulet (NASDAQ:PODD) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Monday. They currently have a $274.00 price target on the medical instruments supplier’s stock. Barclays‘s price objective would indicate a potential downside of 5.20% from the stock’s current price.

Several other research firms have also commented on PODD. Rothschild & Co Redburn increased their target price on shares of Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Leerink Partners increased their price target on shares of Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Wolfe Research raised their price objective on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Jefferies Financial Group upped their price target on shares of Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.75.

Insulet Stock Down 1.3%

Shares of NASDAQ PODD opened at $289.04 on Monday. The stock’s 50-day simple moving average is $306.95 and its 200-day simple moving average is $311.84. Insulet has a 1 year low of $230.05 and a 1 year high of $354.88. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.Insulet’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock worth $2,715,651,000 after buying an additional 87,845 shares in the last quarter. Geode Capital Management LLC grew its holdings in Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after buying an additional 58,309 shares in the last quarter. Norges Bank purchased a new stake in shares of Insulet in the second quarter valued at about $324,689,000. Federated Hermes Inc. increased its stake in Insulet by 14.3% in the 2nd quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock valued at $227,266,000 after buying an additional 90,494 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Insulet by 0.5% during the third quarter. Northern Trust Corp now owns 709,180 shares of the medical instruments supplier’s stock worth $218,945,000 after acquiring an additional 3,618 shares during the period.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.