Insulet Corporation (NASDAQ:PODD) PT Raised to $67.00

Insulet Corporation (NASDAQ:PODD) had its price target raised by analysts at Jefferies Group LLC from $58.00 to $67.00 in a research report issued to clients and investors on Friday, November 3rd. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Group LLC’s target price suggests a potential downside of 1.85% from the company’s previous close.

PODD has been the subject of several other reports. Barclays PLC assumed coverage on shares of Insulet Corporation in a report on Friday, September 15th. They set an “overweight” rating and a $65.00 target price for the company. Zacks Investment Research raised shares of Insulet Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, July 18th. Canaccord Genuity raised shares of Insulet Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $65.00 in a report on Wednesday, November 1st. BTIG Research cut shares of Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Finally, BidaskClub raised shares of Insulet Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Insulet Corporation currently has a consensus rating of “Buy” and a consensus price target of $58.87.

Insulet Corporation (NASDAQ:PODD) traded up $0.48 during trading on Friday, reaching $68.26. 842,900 shares of the company were exchanged, compared to its average volume of 498,870. The company has a debt-to-equity ratio of 4.65, a quick ratio of 4.42 and a current ratio of 4.88. Insulet Corporation has a 12 month low of $32.12 and a 12 month high of $72.26.

Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $114.02 million. Insulet Corporation had a negative net margin of 6.66% and a negative return on equity of 43.85%. Insulet Corporation’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. sell-side analysts expect that Insulet Corporation will post -0.42 EPS for the current fiscal year.

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In other Insulet Corporation news, EVP Charles Alpuche bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average cost of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Granite Investment Partners LLC increased its position in shares of Insulet Corporation by 0.4% in the 2nd quarter. Granite Investment Partners LLC now owns 19,502 shares of the medical instruments supplier’s stock valued at $1,001,000 after purchasing an additional 76 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Insulet Corporation by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 8,171 shares of the medical instruments supplier’s stock valued at $352,000 after purchasing an additional 92 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Insulet Corporation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,746 shares of the medical instruments supplier’s stock valued at $2,296,000 after purchasing an additional 198 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Insulet Corporation by 11.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after purchasing an additional 235 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Insulet Corporation by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 20,233 shares of the medical instruments supplier’s stock valued at $1,034,000 after buying an additional 376 shares in the last quarter.

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).

Analyst Recommendations for Insulet Corporation (NASDAQ:PODD)

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