Insulet (NASDAQ:PODD) Rating Lowered to Hold at Rothschild & Co Redburn

Insulet (NASDAQ:PODD) was downgraded by analysts at Rothschild & Co Redburn from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other analysts also recently issued reports on PODD. Truist Financial reduced their price target on Insulet from $360.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. The Goldman Sachs Group reduced their price target on Insulet from $326.00 to $277.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Insulet in a research report on Thursday, January 22nd. Citigroup downgraded Insulet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $338.00 to $230.00 in a research report on Tuesday, April 7th. Finally, Barclays reissued an “underweight” rating and set a $286.00 price target on shares of Insulet in a research report on Thursday, February 19th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $327.24.

Insulet Stock Performance

PODD opened at $189.56 on Friday. The business has a fifty day simple moving average of $222.23 and a 200 day simple moving average of $271.43. The company has a market capitalization of $13.13 billion, a PE ratio of 54.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.47. Insulet has a 1 year low of $186.25 and a 1 year high of $354.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15.

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, beating 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 firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. Research analysts expect that Insulet will post 6.16 EPS for the current year.

Insider Transactions at Insulet

In related news, Director Michael R. Minogue purchased 2,030 shares of Insulet stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insulet

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Insulet by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after purchasing an additional 87,845 shares in the last quarter. State Street Corp boosted its holdings in shares of Insulet by 2.1% in the 4th quarter. State Street Corp now owns 3,155,489 shares of the medical instruments supplier’s stock valued at $896,916,000 after purchasing an additional 65,317 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Insulet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,006,413 shares of the medical instruments supplier’s stock valued at $568,274,000 after purchasing an additional 41,019 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Insulet by 10.5% in the 4th quarter. Invesco Ltd. now owns 1,480,562 shares of the medical instruments supplier’s stock valued at $420,835,000 after purchasing an additional 141,167 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Insulet in the 4th quarter valued at $300,794,000.

About Insulet

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.