Insulet Co. (NASDAQ:PODD – Get Rating) – Equities research analysts at SVB Leerink dropped their Q2 2022 earnings per share (EPS) estimates for Insulet in a research note issued on Monday, April 18th. SVB Leerink analyst D. Antalffy now expects that the medical instruments supplier will earn $0.25 per share for the quarter, down from their previous estimate of $0.38. SVB Leerink also issued estimates for Insulet’s FY2022 earnings at $1.29 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Insulet from a “hold” rating to a “strong sell” rating and set a $238.00 price objective for the company. in a report on Monday, January 10th. BTIG Research raised Insulet from a “neutral” rating to a “buy” rating and set a $320.00 price target on the stock in a research note on Thursday, February 3rd. Raymond James dropped their price target on Insulet from $329.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, February 24th. Morgan Stanley lowered their target price on Insulet from $300.00 to $268.00 and set an “equal weight” rating on the stock in a research note on Friday, February 25th. Finally, Robert W. Baird lowered their target price on Insulet from $315.00 to $275.00 in a research note on Thursday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $296.23.
Insulet (NASDAQ:PODD – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The medical instruments supplier reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.12. The business had revenue of $307.70 million for the quarter, compared to analysts’ expectations of $300.57 million. Insulet had a return on equity of 9.47% and a net margin of 1.53%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) earnings per share.
In related news, CEO Shacey Petrovic sold 15,000 shares of Insulet stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $273.25, for a total transaction of $4,098,750.00. Following the completion of the transaction, the chief executive officer now directly owns 13,607 shares of the company’s stock, valued at approximately $3,718,112.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wayde D. Mcmillan sold 1,455 shares of Insulet stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $275.60, for a total transaction of $400,998.00. Following the transaction, the chief financial officer now directly owns 21,354 shares of the company’s stock, valued at $5,885,162.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. bought a new stake in shares of Insulet during the fourth quarter worth approximately $27,000. Confluence Wealth Services Inc. bought a new stake in shares of Insulet during the fourth quarter worth approximately $28,000. HM Payson & Co. raised its stake in shares of Insulet by 86.2% during the third quarter. HM Payson & Co. now owns 108 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 50 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Insulet by 226.1% during the fourth quarter. NEXT Financial Group Inc now owns 150 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 104 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in shares of Insulet by 266.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 176 shares of the medical instruments supplier’s stock worth $47,000 after buying an additional 128 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.
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