Piper Jaffray Companies Reiterates “Overweight” Rating for Insulet (NASDAQ:PODD)

Piper Jaffray Companies reiterated their overweight rating on shares of Insulet (NASDAQ:PODD) in a research note published on Wednesday morning, The Fly reports. The brokerage currently has a $170.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $160.00. Piper Jaffray Companies also issued estimates for Insulet’s Q4 2019 earnings at $0.07 EPS, FY2019 earnings at $0.26 EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.25 EPS, FY2020 earnings at $0.70 EPS, Q1 2021 earnings at $0.19 EPS, Q2 2021 earnings at $0.25 EPS, Q3 2021 earnings at $0.40 EPS and FY2021 earnings at $1.23 EPS.

A number of other equities research analysts have also recently commented on PODD. Morgan Stanley increased their target price on shares of Insulet from $127.00 to $135.00 and gave the company an equal weight rating in a research report on Tuesday, August 6th. Leerink Swann reiterated an outperform rating and issued a $185.00 target price (up from $160.00) on shares of Insulet in a research report on Tuesday, September 24th. Jefferies Financial Group increased their target price on shares of Insulet from $105.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Guggenheim cut shares of Insulet from a buy rating to a neutral rating in a research report on Thursday, October 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their target price on shares of Insulet from $130.00 to $150.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $151.71.

Shares of PODD stock traded up $4.59 during trading hours on Wednesday, hitting $169.46. The company’s stock had a trading volume of 1,241,100 shares, compared to its average volume of 751,627. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43. The company has a 50 day moving average of $154.75 and a 200 day moving average of $130.77. The stock has a market cap of $8.73 billion, a PE ratio of 3,389.20 and a beta of 0.96. Insulet has a 12-month low of $70.80 and a 12-month high of $171.96.

Insulet (NASDAQ:PODD) last issued its earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). The business had revenue of $192.12 million during the quarter, compared to analyst estimates of $179.50 million. Insulet had a net margin of 2.38% and a return on equity of 9.46%. Insulet’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, analysts anticipate that Insulet will post 0.23 earnings per share for the current fiscal year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In related news, CEO Shacey Petrovic sold 649 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $152.40, for a total value of $98,907.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael P. Spears sold 4,153 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.12, for a total transaction of $606,836.36. Following the completion of the sale, the senior vice president now directly owns 22,626 shares of the company’s stock, valued at approximately $3,306,111.12. The disclosure for this sale can be found here. Insiders sold 5,491 shares of company stock valued at $806,124 in the last three months. 3.50% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC purchased a new position in Insulet during the second quarter worth about $38,000. Harvest Fund Management Co. Ltd purchased a new position in Insulet during the second quarter worth about $43,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Insulet during the second quarter worth about $97,000. Steward Partners Investment Advisory LLC purchased a new position in Insulet during the second quarter worth about $119,000. Finally, Cerebellum GP LLC purchased a new position in Insulet during the third quarter worth about $122,000.

About Insulet

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.

Recommended Story: Monthly Dividend Stocks Can Provide Solid Income

The Fly

Analyst Recommendations for Insulet (NASDAQ:PODD)

Leave a Reply

Your email address will not be published. Required fields are marked *

*