Insulet (NASDAQ:PODD) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Insulet (NASDAQ:PODD) from a buy rating to a hold rating in a report issued on Saturday morning.

PODD has been the subject of a number of other research reports. Citigroup restated a “buy” rating and issued a $380.00 price objective (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein restated an “outperform” rating on shares of Insulet in a research note on Friday, May 16th. Oppenheimer increased their price objective on shares of Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Finally, Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price for the company in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.00.

Insulet Price Performance

Shares of Insulet stock opened at $306.59 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The firm has a fifty day moving average price of $288.34 and a two-hundred day moving average price of $275.34. The company has a market cap of $21.58 billion, a PE ratio of 52.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 28.8% on a year-over-year basis. Analysts expect that Insulet will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president now directly owns 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of Insulet

A number of institutional investors have recently made changes to their positions in PODD. Norges Bank bought a new stake in shares of Insulet in the fourth quarter worth $248,806,000. GAMMA Investing LLC lifted its position in shares of Insulet by 27,298.6% in the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock worth $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Insulet by 34.8% in the first quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier’s stock worth $302,686,000 after purchasing an additional 297,734 shares in the last quarter. Nuveen LLC bought a new stake in shares of Insulet in the first quarter worth $74,163,000. Finally, Raymond James Financial Inc. bought a new stake in Insulet during the fourth quarter worth $69,433,000.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.