Insulet (NASDAQ:PODD) Sets New 12-Month Low – Here’s What Happened

by · The Cerbat Gem

Insulet Corporation (NASDAQ:PODDGet Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $193.05 and last traded at $193.5290, with a volume of 200660 shares traded. The stock had previously closed at $200.87.

Analyst Ratings Changes

PODD has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Stifel Nicolaus dropped their price target on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Raymond James Financial dropped their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. BTIG Research cut their target price on Insulet from $380.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Sanford C. Bernstein reduced their target price on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note 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. According to MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus target price of $334.38.

Read Our Latest Stock Report on PODD

Insulet Trading Down 0.7%

The stock has a market capitalization of $13.31 billion, a P/E ratio of 54.92, a P/E/G ratio of 1.15 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 business has a 50-day moving average price of $224.26 and a two-hundred day moving average price of $273.13.

Insulet (NASDAQ:PODDGet Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. On average, analysts expect that Insulet Corporation will post 6.16 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insulet

Large investors have recently modified their holdings of the company. Winnow Wealth LLC bought a new position in Insulet during the third quarter worth about $862,000. Nordea Investment Management AB raised its stake in Insulet by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier’s stock valued at $157,128,000 after purchasing an additional 142,922 shares in the last quarter. Jain Global LLC increased its holdings in Insulet by 148.2% in the 3rd quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier’s stock valued at $32,945,000 after buying an additional 63,719 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Insulet during the 3rd quarter worth approximately $2,778,000. Finally, ING Groep NV boosted its position in shares of Insulet by 88.5% during the 3rd quarter. ING Groep NV now owns 17,300 shares of the medical instruments supplier’s stock worth $5,341,000 after acquiring an additional 8,123 shares in the last quarter.

About Insulet

(Get Free Report)

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.

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