Insulet (NASDAQ: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 report released on Monday, January 8th, Marketbeat.com reports. The brokerage currently has $80.00 price target on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently commented on PODD. Canaccord Genuity reiterated a hold rating and issued a $50.00 price target on shares of Insulet in a research note on Wednesday, September 27th. UBS Group upgraded Insulet from a market perform rating to an outperform rating in a research note on Monday, January 8th. Barclays raised their price objective on Insulet from $70.00 to $75.00 and gave the stock an overweight rating in a research note on Monday, November 20th. Robert W. Baird raised their price objective on Insulet from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Finally, BidaskClub cut Insulet from a buy rating to a hold rating in a research note on Saturday, December 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $62.53.

Shares of Insulet (NASDAQ PODD) traded down $0.02 during trading on Monday, reaching $72.89. The company’s stock had a trading volume of 380,900 shares, compared to its average volume of 670,992. Insulet has a 12 month low of $38.43 and a 12 month high of $78.65. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65. The company has a market cap of $4,242.47, a P/E ratio of -145.78 and a beta of 1.58.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The business had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.02 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The business’s revenue was up 28.4% compared to the same quarter last year. equities analysts anticipate that Insulet will post -0.43 EPS for the current year.

In related news, Director James C. Mullen acquired 2,500 shares of Insulet stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $67.45 per share, for a total transaction of $168,625.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

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