Brokerages forecast that Insulet Co. (NASDAQ:PODD) will post $125.25 million in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Insulet’s earnings, with the lowest sales estimate coming in at $124.20 million and the highest estimate coming in at $127.49 million. Insulet posted sales of $103.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 26th.
According to Zacks, analysts expect that Insulet will report full year sales of $125.25 million for the current financial year, with estimates ranging from $447.00 million to $460.79 million. For the next fiscal year, analysts anticipate that the company will report sales of $557.41 million per share, with estimates ranging from $510.43 million to $585.85 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Insulet.
Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $121.80 million during the quarter, compared to analyst estimates of $114.02 million. Insulet had a negative net margin of 6.66% and a negative return on equity of 43.85%. The business’s revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share.
Several research firms recently weighed in on PODD. BidaskClub downgraded Insulet from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Barclays lifted their price objective on Insulet from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Zacks Investment Research downgraded Insulet from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Morgan Stanley lifted their price objective on Insulet from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Finally, Jefferies Group lifted their price objective on Insulet from $58.00 to $67.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $61.07.
In other news, Director James C. Mullen bought 2,500 shares of Insulet stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $67.45 per share, for a total transaction of $168,625.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PODD. Point72 Asset Management L.P. bought a new position in Insulet in the third quarter worth about $33,373,000. Janus Henderson Group PLC acquired a new position in shares of Insulet during the second quarter valued at about $27,428,000. JPMorgan Chase & Co. increased its holdings in shares of Insulet by 104.9% during the third quarter. JPMorgan Chase & Co. now owns 611,595 shares of the medical instruments supplier’s stock valued at $34,035,000 after acquiring an additional 313,093 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Insulet by 29.6% during the second quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock valued at $43,013,000 after acquiring an additional 191,217 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Insulet by 120.7% during the second quarter. Renaissance Technologies LLC now owns 328,200 shares of the medical instruments supplier’s stock valued at $16,840,000 after acquiring an additional 179,500 shares in the last quarter.
Insulet (PODD) traded down $0.06 during mid-day trading on Friday, hitting $68.73. The company had a trading volume of 469,700 shares, compared to its average volume of 503,160. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65. Insulet has a 12-month low of $36.05 and a 12-month high of $72.99.
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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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