Insulet (NASDAQ:PODD) Reaches New 52-Week Low Following Analyst Downgrade

Insulet Corporation (NASDAQ:PODD) reached a new 52-week low during trading on Tuesday after Evercore lowered their price target on the stock from $340.00 to $240.00. Evercore currently has an outperform rating on the stock. Insulet traded as low as $198.10 and last traded at $201.0860, with a volume of 20680 shares trading hands. The stock had previously closed at $203.50.

A number of other research analysts also recently commented on the stock. Oppenheimer dropped their price objective on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Sanford C. Bernstein dropped their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Leerink Partners dropped their price objective on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Raymond James Financial dropped their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, Stifel Nicolaus dropped their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Nineteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $344.33.

Insider Activity

In other news, Director Michael R. Minogue bought 2,030 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

A number of institutional investors and hedge funds have recently bought and sold shares of PODD. Norges Bank purchased a new position in Insulet in the 4th quarter worth approximately $300,794,000. Qube Research & Technologies Ltd purchased a new position in Insulet in the 2nd quarter worth approximately $131,439,000. RTW Investments LP purchased a new position in Insulet in the 4th quarter worth approximately $92,264,000. AQR Capital Management LLC boosted its stake in shares of Insulet by 161.6% during the 4th quarter. AQR Capital Management LLC now owns 459,115 shares of the medical instruments supplier’s stock valued at $130,499,000 after buying an additional 283,643 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Insulet during the 2nd quarter valued at approximately $80,082,000.

Insulet Stock Performance

The company has a market capitalization of $14.22 billion, a PE ratio of 58.08, a PEG ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The company has a 50 day moving average price of $236.88 and a 200 day moving average price of $282.89.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS. Equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

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.