StockNews.com Downgrades Insulet (NASDAQ:PODD) to Sell

Insulet (NASDAQ:PODDGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other equities research analysts have also issued reports on the company. Canaccord Genuity Group lifted their price target on Insulet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Canaccord Genuity Group lifted their price target on Insulet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. BTIG Research lifted their price target on Insulet to $285.00 in a research note on Tuesday, August 9th. Piper Sandler boosted their target price on Insulet from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Finally, Raymond James boosted their target price on Insulet from $262.00 to $280.00 in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.23.

Insulet Price Performance

Insulet stock opened at $241.25 on Friday. Insulet has a 52 week low of $181.00 and a 52 week high of $324.81. The business has a 50-day simple moving average of $256.45 and a 200 day simple moving average of $240.24. The company has a quick ratio of 3.54, a current ratio of 4.69 and a debt-to-equity ratio of 3.28. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 482.50 and a beta of 0.73.

Insulet (NASDAQ:PODDGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.27). Insulet had a return on equity of 13.83% and a net margin of 2.94%. The firm had revenue of $299.40 million for the quarter, compared to the consensus estimate of $290.87 million. During the same period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts forecast that Insulet will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other Insulet news, EVP Bret Christensen sold 2,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $264.24, for a total transaction of $766,296.00. Following the completion of the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at approximately $5,166,156.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insulet news, EVP Bret Christensen sold 2,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $264.24, for a total transaction of $766,296.00. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $5,166,156.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shacey Petrovic sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $222.90, for a total value of $3,343,500.00. Following the transaction, the director now owns 13,695 shares in the company, valued at approximately $3,052,615.50. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PODD. Capital Research Global Investors grew its holdings in shares of Insulet by 8.0% during the 4th quarter. Capital Research Global Investors now owns 7,811,512 shares of the medical instruments supplier’s stock worth $2,078,434,000 after acquiring an additional 579,764 shares during the period. Marshall Wace LLP purchased a new stake in shares of Insulet in the 4th quarter worth approximately $140,781,000. William Blair Investment Management LLC purchased a new stake in shares of Insulet in the 1st quarter worth approximately $136,901,000. Clearbridge Investments LLC grew its stake in shares of Insulet by 38.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock worth $452,016,000 after buying an additional 474,545 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its stake in shares of Insulet by 27.9% in the 4th quarter. D1 Capital Partners L.P. now owns 1,692,857 shares of the medical instruments supplier’s stock worth $450,418,000 after buying an additional 368,775 shares during the last quarter.

About Insulet

(Get Rating)

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.

See Also

Analyst Recommendations for Insulet (NASDAQ:PODD)

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