Insulet Corp. (NASDAQ:PODD) – Equities researchers at B. Riley issued their Q3 2016 earnings per share estimates for Insulet Corp. in a research note issued on Tuesday. B. Riley analyst G. Chodaczek forecasts that the brokerage will post earnings per share of ($0.08) for the quarter. B. Riley currently has a “Neutral” rating and a $46.00 price target on the stock. B. Riley also issued estimates for Insulet Corp.’s Q4 2016 earnings at ($0.07) EPS, FY2016 earnings at ($0.41) EPS, Q1 2017 earnings at ($0.08) EPS, Q2 2017 earnings at ($0.04) EPS, Q3 2017 earnings at ($0.04) EPS, Q4 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.14) EPS.
Insulet Corp. (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The firm had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $81.10 million. Insulet Corp. had a negative return on equity of 137.88% and a negative net margin of 17.68%. The firm’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS.
A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reissued a “hold” rating and set a $38.00 target price on shares of Insulet Corp. in a research note on Wednesday, August 17th. Piper Jaffray Cos. restated an “overweight” rating and set a $52.00 price target on shares of Insulet Corp. in a report on Tuesday, August 16th. Zacks Investment Research upgraded shares of Insulet Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, August 9th. Canaccord Genuity restated a “hold” rating and set a $36.00 price target on shares of Insulet Corp. in a report on Friday, August 5th. Finally, Leerink Swann restated an “outperform” rating and set a $50.00 price target (up previously from $40.00) on shares of Insulet Corp. in a report on Thursday, August 4th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Insulet Corp. presently has a consensus rating of “Buy” and an average target price of $41.50.
Insulet Corp. (NASDAQ:PODD) opened at 40.94 on Thursday. The firm’s market cap is $2.34 billion. The company has a 50-day moving average price of $42.87 and a 200 day moving average price of $35.01. Insulet Corp. has a 12 month low of $23.94 and a 12 month high of $45.60.
Several hedge funds and other institutional investors have recently bought and sold shares of PODD. Panagora Asset Management Inc. bought a new position in Insulet Corp. during the first quarter valued at about $486,000. Banbury Partners LLC increased its position in Insulet Corp. by 140.4% in the first quarter. Banbury Partners LLC now owns 444,668 shares of the company’s stock valued at $14,745,000 after buying an additional 259,700 shares during the last quarter. Arrowgrass Capital Partners US LP bought a new position in Insulet Corp. during the first quarter valued at about $5,565,000. Bellevue Group AG bought a new position in Insulet Corp. during the first quarter valued at about $497,000. Finally, Integre Asset Management LLC increased its position in Insulet Corp. by 14.8% in the first quarter. Integre Asset Management LLC now owns 21,096 shares of the company’s stock valued at $700,000 after buying an additional 2,727 shares during the last quarter.
Insulet Corp. Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The OmniPod System consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).
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