Evercore Issues Pessimistic Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its target price reduced by equities researchers at Evercore from $340.00 to $240.00 in a report released on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Evercore’s price target points to a potential upside of 18.54% from the company’s previous close.

A number of other research firms have also recently issued reports on PODD. The Goldman Sachs Group decreased their price target on shares of Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Canaccord Genuity Group cut their price objective on shares of Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. JPMorgan Chase & Co. cut their price objective on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. UBS Group reiterated a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Finally, Raymond James Financial cut their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $344.33.

Insulet Trading Down 0.5%

NASDAQ PODD opened at $202.46 on Monday. The company has a fifty day simple moving average of $235.63 and a two-hundred day simple moving average of $281.99. The stock has a market cap of $14.25 billion, a P/E ratio of 57.85, a P/E/G ratio of 1.22 and a beta of 1.47. Insulet has a 12-month low of $198.10 and a 12-month high of $354.88. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61.

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

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by insiders.

Institutional Trading of Insulet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Insulet by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after buying an additional 87,845 shares during the period. State Street Corp grew its position in Insulet by 2.1% during the fourth quarter. State Street Corp now owns 3,155,489 shares of the medical instruments supplier’s stock valued at $896,916,000 after buying an additional 65,317 shares during the period. Geode Capital Management LLC grew its position in Insulet by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 2,006,413 shares of the medical instruments supplier’s stock valued at $568,274,000 after buying an additional 41,019 shares during the period. Invesco Ltd. grew its position in Insulet by 10.5% during the fourth quarter. Invesco Ltd. now owns 1,480,562 shares of the medical instruments supplier’s stock valued at $420,835,000 after buying an additional 141,167 shares during the period. Finally, Norges Bank acquired a new stake in Insulet during the fourth 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.