Insulet (NASDAQ:PODD) Reaches New 1-Year Low on Analyst Downgrade

Insulet Corporation (NASDAQ:PODD) hit a new 52-week low on Tuesday after Evercore lowered their price target on the stock from $340.00 to $240.00. Evercore currently has an outperform rating on the stock. Insulet traded as low as $198.10 and last traded at $201.0860, with a volume of 20680 shares. The stock had previously closed at $203.50.

PODD has been the subject of several other reports. Canaccord Genuity Group decreased their price target on Insulet from $450.00 to $435.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group decreased their price target on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Barclays reaffirmed an “underweight” rating and set a $286.00 price target on shares of Insulet in a report on Thursday, February 19th. Sanford C. Bernstein decreased their price target on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Oppenheimer reduced their target price on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Nineteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $344.33.

Insider Buying and Selling

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC lifted its holdings in Insulet by 114.6% in the fourth quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 47 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Insulet during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Insulet during the 4th quarter worth $28,000. DV Equities LLC acquired a new position in shares of Insulet during the 4th quarter worth $28,000. Finally, MV Capital Management Inc. acquired a new position in shares of Insulet during the 4th quarter worth $29,000.

Insulet Stock Down 0.5%

The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 57.85, a P/E/G ratio of 1.22 and a beta of 1.47. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $235.63 and a 200-day moving average price of $281.99.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. On average, equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.