Insulet Corporation (PODD) Trading Up -0.3%

Insulet Corporation (NASDAQ:PODD)’s share price was up 0.3% on Friday . The stock traded as high as $59.41 and last traded at $58.91. Approximately 135,390 shares changed hands during trading, a decline of 67% from the average daily volume of 415,131 shares. The stock had previously closed at $59.09.

Several equities analysts have recently weighed in on PODD shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price (up from $48.00) on shares of Insulet Corporation in a report on Wednesday, August 9th. Canaccord Genuity reaffirmed a “hold” rating and set a $50.00 target price on shares of Insulet Corporation in a report on Wednesday, September 27th. BidaskClub raised shares of Insulet Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Cowen and Company reaffirmed a “buy” rating and set a $52.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Insulet Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.50.

The stock has a 50 day moving average price of $57.54 and a 200-day moving average price of $48.88. The firm’s market capitalization is $3.42 billion.

Insulet Corporation (NASDAQ:PODD) last released its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The company had revenue of $110.00 million during the quarter, compared to the consensus estimate of $106.23 million. During the same quarter last year, the company earned ($0.08) earnings per share. Insulet Corporation’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts forecast that Insulet Corporation will post ($0.51) EPS for the current fiscal year.

In other news, EVP Charles Alpuche purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $58.08 per share, for a total transaction of $145,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in PODD. Strs Ohio increased its position in shares of Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock valued at $172,000 after buying an additional 1,700 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Insulet Corporation by 943.0% in the first quarter. Russell Investments Group Ltd. now owns 24,230 shares of the medical instruments supplier’s stock valued at $1,044,000 after buying an additional 21,907 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Insulet Corporation by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 192,168 shares of the medical instruments supplier’s stock valued at $8,281,000 after buying an additional 3,775 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Insulet Corporation in the first quarter valued at $215,000. Finally, American International Group Inc. increased its position in shares of Insulet Corporation by 5.3% in the first quarter. American International Group Inc. now owns 34,940 shares of the medical instruments supplier’s stock valued at $1,506,000 after buying an additional 1,765 shares in the last quarter.

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Insulet Corporation Company Profile

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).

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