Insulet Corp. Downgraded to “Hold” at Wunderlich (PODD)

Insulet Corp. (NASDAQ: PODD) was downgraded by stock analysts at Wunderlich from a “buy” rating to a “hold” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $28.00 target price on the stock. Wunderlich’s price target suggests a potential downside of 10.26% from the stock’s previous close.

The analysts wrote, “We are downgrading the shares of Insulet (PODD) to Hold from Buy, as the shares have exceeded our recently raised price target. PODD shares have appreciated significantly year-to-date, reflecting the late 2012 FDA approval, and early signs of strong market acceptance, of the next-generation OmniPod insulin pump. We remain positive on the prospects for Insulet, and the likelihood that the new OmniPod will continue to drive strong market share gains going forward. But with the shares having eclipsed our recently raised $28 price target, we are moving to the sidelines.”

Insulet Corp. (NASDAQ: PODD) traded up 1.17% on Friday, hitting $31.20. Insulet Corp. has a 52-week low of $16.95 and a 52-week high of $26.87. The stock’s 50-day moving average is currently $25.15. The company’s market cap is $1.667 billion.

Insulet Corp. (NASDAQ: PODD) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.21) by $0.01. The company had revenue of $57.40 million for the quarter, compared to the consensus estimate of $57.26 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts expect that Insulet Corp. will post $-0.58 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barrington Research downgraded shares of Insulet Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, May 8th. Separately, analysts at Northland Securities downgraded shares of Insulet Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, May 8th. They now have a $28.00 price target on the stock. Finally, analysts at Northland Capital Partners downgraded shares of Insulet Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, May 8th. They now have a $28.00 price target on the stock.

Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Insulet Corp. currently has an average rating of “Hold” and a consensus price target of $29.00.

Insulet Corporation is a medical device company that develops, manufactures and markets an insulin infusion system for people with insulin-dependent diabetes.

The Fly On The Wall



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