Insulet (NASDAQ:PODD) had its target price increased by Morgan Stanley from $98.00 to $127.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the medical instruments supplier’s stock.
Several other research analysts have also recently issued reports on PODD. Canaccord Genuity decreased their target price on shares of Jamieson Wellness from C$23.00 to C$20.00 in a report on Monday, May 6th. BidaskClub cut shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Northland Securities reaffirmed a buy rating and issued a $6.00 target price on shares of EMCORE in a report on Monday, June 10th. JPMorgan Chase & Co. cut shares of Sogou from a neutral rating to an underweight rating and decreased their target price for the stock from $5.50 to $4.12 in a report on Thursday, June 27th. Finally, UBS Group set a €110.00 ($127.91) target price on shares of Wacker Chemie and gave the stock a buy rating in a report on Thursday, June 13th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Insulet presently has an average rating of Buy and a consensus target price of $113.45.
NASDAQ:PODD traded up $1.68 during mid-day trading on Tuesday, hitting $124.00. 3,884 shares of the company’s stock were exchanged, compared to its average volume of 436,469. Insulet has a one year low of $70.80 and a one year high of $124.38. The company has a debt-to-equity ratio of 2.68, a quick ratio of 3.71 and a current ratio of 4.36. The company has a fifty day moving average price of $116.84. The stock has a market cap of $7.24 billion, a P/E ratio of 2,467.20 and a beta of 1.12.
Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $159.56 million for the quarter, compared to analyst estimates of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. Insulet’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Equities analysts predict that Insulet will post 0.27 earnings per share for the current fiscal year.
In related news, insider Shacey Petrovic sold 895 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $113.00, for a total transaction of $101,135.00. Following the completion of the sale, the insider now directly owns 95,559 shares in the company, valued at $10,798,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles Alpuche sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $104.78, for a total transaction of $408,642.00. The disclosure for this sale can be found here. Insiders have sold 41,894 shares of company stock valued at $4,524,025 over the last three months. 3.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PODD. Norges Bank bought a new stake in Insulet during the fourth quarter valued at approximately $53,604,000. William Blair Investment Management LLC grew its position in Insulet by 15.7% during the first quarter. William Blair Investment Management LLC now owns 2,144,988 shares of the medical instruments supplier’s stock valued at $203,967,000 after buying an additional 290,790 shares during the period. Frontier Capital Management Co. LLC grew its position in Insulet by 12.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,958,736 shares of the medical instruments supplier’s stock valued at $186,256,000 after buying an additional 214,033 shares during the period. Artisan Partners Limited Partnership grew its position in Insulet by 17.6% during the first quarter. Artisan Partners Limited Partnership now owns 1,391,041 shares of the medical instruments supplier’s stock valued at $132,274,000 after buying an additional 207,780 shares during the period. Finally, KAMES CAPITAL plc grew its position in Insulet by 22.7% during the first quarter. KAMES CAPITAL plc now owns 582,252 shares of the medical instruments supplier’s stock valued at $55,372,000 after buying an additional 107,828 shares during the period.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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