Insulet (NASDAQ:PODD) Cut to Neutral at Citigroup

Insulet (NASDAQ:PODD) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $230.00 target price on the medical instruments supplier’s stock, down from their prior target price of $338.00. Citigroup’s target price would indicate a potential upside of 13.02% from the stock’s previous close.

PODD has been the topic of a number of other research reports. Canaccord Genuity Group decreased their price target on shares of Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. TD Cowen lowered shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target on the stock. in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and issued a $380.00 price target on shares of Insulet in a report on Wednesday, February 18th. Finally, Leerink Partners decreased their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $349.10.

Insulet Stock Down 0.4%

Shares of NASDAQ PODD opened at $203.50 on Tuesday. Insulet has a 1 year low of $202.44 and a 1 year high of $354.88. The firm’s 50 day moving average price is $236.88 and its 200 day moving average price is $282.89. The firm has a market cap of $14.33 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. Insulet’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the business earned $1.15 EPS. As a group, sell-side analysts anticipate 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 bought 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, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several hedge funds and other institutional investors have recently made changes to their positions in PODD. NewEdge Advisors LLC lifted its holdings in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 64 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Insulet by 36.8% during the 2nd quarter. First Trust Advisors LP now owns 137,949 shares of the medical instruments supplier’s stock valued at $43,341,000 after acquiring an additional 37,136 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Insulet by 7.3% during the 2nd quarter. Cresset Asset Management LLC now owns 2,587 shares of the medical instruments supplier’s stock valued at $813,000 after acquiring an additional 177 shares in the last quarter. Avestar Capital LLC acquired a new position in shares of Insulet during the 2nd quarter valued at $224,000. Finally, Cerity Partners LLC lifted its holdings in shares of Insulet by 68.7% during the 2nd quarter. Cerity Partners LLC now owns 17,262 shares of the medical instruments supplier’s stock valued at $5,423,000 after acquiring an additional 7,030 shares in the last quarter.

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.