Insulet (PODD) Upgraded by Raymond James Financial to “Outperform”

Raymond James Financial upgraded shares of Insulet (NASDAQ:PODD) from a market perform rating to an outperform rating in a research note released on Monday, Marketbeat Ratings reports. The firm currently has $80.00 target price on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on PODD. BidaskClub cut Insulet from a buy rating to a hold rating in a report on Saturday, December 2nd. Barclays upped their price target on Insulet from $70.00 to $75.00 and gave the stock an overweight rating in a report on Monday, November 20th. UBS Group upgraded Insulet from a market perform rating to an outperform rating in a report on Monday. Zacks Investment Research cut Insulet from a buy rating to a hold rating in a report on Saturday, November 11th. Finally, Morgan Stanley upped their price target on Insulet from $55.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Insulet has an average rating of Buy and a consensus target price of $62.53.

Insulet (PODD) traded up $1.47 during midday trading on Monday, reaching $77.30. The company’s stock had a trading volume of 643,200 shares, compared to its average volume of 763,725. The stock has a market cap of $4,500.00, a PE ratio of -154.60 and a beta of 1.58. Insulet has a 52-week low of $38.43 and a 52-week high of $78.65. 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 (NASDAQ:PODD) last released its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $114.02 million. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. Insulet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. equities analysts anticipate that Insulet will post -0.43 EPS for the current fiscal year.

In other Insulet news, Director James C. Mullen bought 2,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $67.45 per share, with a total value of $168,625.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Insulet by 0.5% during the 2nd quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock valued at $445,755,000 after acquiring an additional 39,836 shares in the last quarter. Northern Trust Corp raised its position in shares of Insulet by 3.2% during the 2nd quarter. Northern Trust Corp now owns 777,986 shares of the medical instruments supplier’s stock valued at $39,919,000 after acquiring an additional 24,188 shares in the last quarter. Paulson & CO. Inc. acquired a new stake in shares of Insulet during the 2nd quarter valued at approximately $1,283,000. Fox Run Management L.L.C. acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $435,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $33,373,000.

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About Insulet

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 (NASDAQ:PODD)

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